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Helaba Drops Foreclosure on Sutton Property | Real Estate News
Helaba, the German bank, has dropped its foreclosure lawsuit against Jeff Sutton’s Herald Square retail building — a move insiders suspect signals a secret settlement. The $50 million mortgage, issued in 2018, triggered legal action last year after unpaid taxes, but the debt’s transfer to a new entity may have paved the way for a deal. Sutton’s team fiercely defended him, arguing the foreclosure was a reputational hit and his personal guarantee only applied to fraud — while also challenging a receiver’s $12 million tax claim as overreach. With another foreclosure looming, details remain under…
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