US Court Blocks Anglo Bid to Force Property Sale
This is news report by the loan against forced sale of a laboratory loan of $180 million (€131 million) in the Harvard University. About 11 buildings that have secure to against Anglo blocking after sale of the properties and proceed by bank’s foreclosure against final judgment of the court to resolve the stalemate. Further than this owners had by breach if loan value agree to borrow. It has prevent if debt rising above 75 percent from property values.
Up to April 6th, 2011 by the owners against Anglo that an injunction has granted superior court of Suffolk County stops the sale of the property, but in the real pending final judgment in the action taken. It has debt full if Massachusetts property had declined in value during the economic downturn and that the owners cannot repay. It has schedule on December 16th the owners must have a strong case of the 650,000 sq ft complex. A foreclosure sale of the property would deprive by the owner of its ownership of this unique real estate, after closing as well as its very substantial investment. It may great if the bank must be properly to handle of the force sale against market condition as loan agreements.