KPLC 7 News, Lake Charles, LouisianaJudge rejects bid to stop foreclosure
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Associated Press - February 4, 2010 8:44 AM ET
BATON ROUGE, La. (AP) - Baton Rouge developer Tommy Spinosa has lost a bid to halt a foreclosure suit against his Perkins Rowe mixed-use project.
U.S. District Judge James J. Brady refused Wednesday to freeze the $165 million suit by lender KeyBank National Association, of Cleveland.
Brady also denied Spinosa and Perkins Rowe permission to ask the 5th U.S. Circuit Court of Appeals in New Orleans to reverse the judge's November ruling that KeyBank is allowed to pursue its claims in federal court.
KeyBank filed its suit in July and alleged that Perkins Rowe had not made a payment on its loan since October 2008. According to documents KeyBank attached to its suit, Spinosa personally guaranteed that loan.
Information from: The Advocate, http://www.2theadvocate.com
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