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Court Says Lender Must Lend To Big Destiny USA Project

Publication Date: 11/25/2009
Author: 
Format: HTML

Description:
Banks in New York state may have some new worries about lending to projects they think are having difficulties. A state appeals court has ordered Citigroup Global Markets Realty Corp. to resume funding on the $330-million Destiny USA project, near Syracuse. The court said the developer is entitled to a preliminary injunction in its breach-of contract suit against the bank because the project is “unique.”

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