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Appellate Division Courthouse of New York State in Manhattan, New York City, home of the First Department of the Appellate Division (Wikipedia) Appellate Division Courthouse of New York State in Manhattan, New York City, home of the First Department of the Appellate Division. (Photo: Wikipedia)

A New York state appellate court on Thursday rejected Atlas Apartment Holding’s bid to unwind the sale of a holding company it used as collateral after it defaulted on a $71 million real estate loan from financial firm Macquarie, ruling that the move was not supported by the state’s commercial law.

Tom McParland

Tom McParland of New York Law Journal can be contacted at tmcparland@alm.com. Follow him on Twitter @TMcParlandALM.

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