Appaloosa Sues CWCapital Over Stuyvesant Town Interest

Updated on
  • Tepper-linked funds ask court to block $566 million payment
  • Apartment complex was handed to lenders after financial crisis

Funds associated with billionaire David Tepper’s Appaloosa Management LP sued to block CWCapital Asset Management LLC from recovering more than $500 million in interest from the mortgage on Manhattan’s largest apartment complex after it was sold to a group led by Blackstone Group LP last month.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.