| Request to Stop Auction of
San Diego Hotel Denied in SDNY Appeal to
Second Circuit Promised
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
Dec 13 – The impending
auction sale of the San Diego
Hilton Doubletree Hotel set
for December 17 was the
subject of a motion and oral
argument for a temporary
restraining order on the
evening of December 13 before
U.S. District Court for the
South District of New York
Judge Gregory H. Woods.
New York-based Ladder Capital
Finance LLC argued that due to
breach it will be within its
rights to auction the
property. After retiring to
his robing room to mull the
matter, past 6 pm, Judge Woods
emerged and agreed, denying
the motion for a preliminary
injunction.
The plaintiff's
lawyer asked Judge Woods to
issue a temporary stay to
allow appeal to the Second
Circuit. Ladder opposed this,
saying it was precisely the
relief that had just been
denied.
Judge Woods
denied the application, but
committed to quickly a text
order that could be used to
appeal to the Second Circuit
on Monday, December 16, the
day before the auction. The
case is 1250 North SD, LLC et
al v. Ladder Capital Finance
LLC, 19-cv-10957
(Woods).
***
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