CW Moves To Dismiss Appaloosa Suit March 10, 2010

CW Capital
plans to file Friday a motion to dismiss a case brought by David Tepper’s Appaloosa Management that aims to hold up the foreclosure of $3 billion of debt used to acquire Peter Cooper Village/Stuyvesant Town in New York. The debt was transferred to CW Capital, the special servicer, after owners Tishman Speyer and BlackRock defaulted earlier this year. Appaloosa owns more than $750 million of bonds related to the transaction.

At issue is the ability ...

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