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Commercial dispute at appeals court centers on notice-and-cure, recorded encumbrance and alleged self-dealing
Summary
In Newnan v. CBW Lending LLC, the appellant contends CBW and related entities breached a mortgage by recording an unconsented encumbrance and then structuring related financing that advantaged insiders; the appellee contends recorded consents and notice-and-cure rules preclude relief.
The Appeals Court heard a complex commercial appeal in which a mortgagee, Newnan, contends a borrower/owner (CBW and related entities) violated a mortgage covenant by recording an unconsented second mortgage, then repaying insiders and restructuring ownership so the mortgagee lost priority and contractual remedies.
Appellant counsel argued CBW and its related entities created a multi-entity financing (described in argument as transfers through VNO and other entities) that resulted…
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