The rap artist known as Jay-Z has filed suit against Highland Capital Management over loan guarantees for a Manhattan hotel project. The artist, whose real name is Shawn Carter, claims in his complaint in U.S. District Court for the Southern District of New York that the investment firm and co-defendant NexBank acted in bad faith when they would not clear Carter and other guarantors of their obligations after receiving a deed in lieu of foreclosure after the loan matured and went into default.
Click here to read the story from Bloomberg.