Courts roundup: 2 bankruptcies totaling $24M; $3.3M foreclosure, more

$15.2M bankruptcy in Hudson Yards: Ae Sook Choi was the signatory for a $14.2 million loan secured by 442 West 36th Street given by Ladder Capital in 2019, and is the petitioner for this chapter 11 bankruptcy. The filing lists no assets and liabilities of $10 to $50 million. The loan was assigned to the UBS commercial mortgage trust 2019-C17. Choi also obtained a $1.11 million loan from Newbank in November 2019. LINK

$9M bankruptcy filed to block Madison Realty Capital-forced sale: Evanthia Koustis filed bankruptcy to block the sale set for today for a three-story, 3,488-square-foot townhouse at 212 East 72nd Street in Lenox Hill. Koustis bought the townhouse in 1992. In 2014 is was security for a loan, and in 2015, Madison Realty Capital through the entity 72nd Ninth LLC, bought the debt. And in 2016 Madison commenced a foreclosure action.  The referee in the case set a date of today, March 23, 2022, as the date for the sale of the property, listing liabilities of approximately $9 million. Koustis believes the property is worth $12 million and Madison Realty, according to the petition, believes there is $9 million of debt remaining on the property. LINK

Briefs:

Toby Moskovits sues Be Aviv related to loan at 286 Rider Avenue in the Bronx. LINK

Electrical firm owners allege Gary Barnett, who they claim is an investor in the firm, has not abided by an agreement. LINK

Metropolitan New York Synod of the Evangelical Lutheran Church in America claims Immanuel Lutheran Church is improperly selling a co-op unit, 108 East 82nd Street, 7C, for approximately $2 million. LINK

Easy Financial seeks for foreclose on 770 East 214th Street in Williamsbridge, with a $3.3 million loan. LINK

Atkins & Breskin sues hotel owner Paul Stallings related to rent at 105 Rivington Street in Lower East Side. LINK