IRS, lender press claims on developer
Updated on August 10, 2008 Hawaii Standard Time.
A New York-based lender has filed a foreclosure lawsuit against developer Brian Anderson and one of his companies, claiming they owe $23 million on the loan used to buy a Kauai resort in 2004.
Publication: bizjournals.com
Date of Publication: August 8, 2008
Article URL: http:/ / www.bizjournals.com/ pacific/ stories/ 2008/ 08/ 11/ story1.html?b=1218427200^1682144
Comments by Sachiko
According to the article, the amount is what remains from the original loan of $85.75 million, which included the $75.75 million that KB Resort borrowed from subprime lender Fremont Investment & Loan plus an additional $10 million advanced in July 2006, according to the complaint.
