DLA Piper secures summary judgment win for Devonshire in loan sale suits
DLA Piper won summary judgment on behalf of Devonshire Campus, LLC, one of multiple lenders involved in a multi-tranche loan secured by a mortgage on a Florida continuing care retirement community in two related cases.
Judge Sullivan found that the plaintiffs, S-Devonshire, LLC and S1-Devonshire, LLC had breached the servicing agreement governing the lenders by refusing to effectuate Devonshire’s loan sale, and that they had not effectively exercised their option to buy the loan. Sullivan ordered the plaintiffs to sell the loan as directed by Devonshire, and awarded Devonshire attorney’s fees and costs.
Thomas Califano, vice-chair of the restructuring practice, and litigation partner Michael Hynes led a team that included Joe Alonzo, Gabriella Zborovsky and Connie Tse.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The US Supreme Court has invalidated federal aggregate limits on individual political contributions in the case McCutcheon et al v Federal Election Commission.
Law à la Mode — April 2014: fashion flair transforms wearable technologies; delivering IT services in the retail sector; and more
DLA Piper has released the April 2014 issue of its Law à la Mode publication.
Analysis from The Lawyer
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions
The fragile refinance market is back in rude health and US-style alternative lenders are stepping up with innovative structures to sustain the recovery