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Corus Bank successfully forecloses upon Almeda North Tower property

March 2009

Client(s) Corus Bank, NA

Jones Day represented Corus Bank, NA as the senior secured creditor in the contentious chapter 11 case of 5925 Almeda North Tower, LP (the "Developer"). A Jones Day team successfully obtained relief from the automatic stay to foreclose upon the property after a contested confirmation hearing with the Developer that included a battle of the experts on the value of the condo tower. A battle won by Corus Bank.

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