Ballard Spahr filed a breach-of-contract lawsuit Thursday in Pennsylvania Eastern District Court targeting Pavilion Apartments Penn and Kiryat Greenbriar. The suit, brought on behalf of Wilmington Trust, centers on a $29.6 million loan to acquire a leasehold interest in a senior housing project. Counsel have not yet appeared for the defendants. The case is 2:22-cv-03987, Wilmington Trust, National Association, as Trustee of the $29,615,000 Philadelphia Authority For Industrial Development Senior Housing Revenue Bonds (The Pavilion) v. Pavilion Apartments Penn LLC et al.
Banking & Financial Services
October 06, 2022, 6:18 PM