(This story, in slightly different form, originally appeared inthe New York Law Journal.)
NEW YORK CITY-A state judge has refused to lift a defaultjudgment of $265 million against a group of individual andcorporate investors in a 16-year dispute over repayment of a loanused to develop Manhattan's Flatotel hotel.
In a Nov. 21 decision, Supreme Court Justice Walter B. Tolubrejected the argument of "law office failure" made by defendants inCDR Créances v. Cohen, 600448/06 and 109565/03. The state SupremeCourt decision will be published on Friday.
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