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Successful Workout of Fort Lauderdale Condo-Hotel Venture

Corus Construction Venture, LLC

Representation of Corus Construction Venture, LLC, owner of a $140 million construction loan for a residential project formerly known as Trump International Hotel & Tower in Fort Lauderdale, Florida. CCV purchased the loan, part of a $4.4 billion Corus Bank loan portfolio, from the FDIC, the receiver of Corus Bank. CCV then commenced with foreclosure of the senior loan, naming over 110 defendants including the junior lender. CCV successfully overcame the junior lender's $5 million counterclaim and obtained title to the property at a foreclosure sale. On appeal, the 4th DCA affirmed the trial court's order in favor of CCV.

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David W. Trench

David W. Trench

Partner, General Counsel
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Experience
Handled billions of dollars in distressed debt related to modifications, extensions, forbearances, discounted payoffs, and deeds in lieu of foreclosure.
Experience

Representation of debtor in possession in the chapter 11 case of Cabi Downtown LLC, the owner of an 849-unit condominium project owing over $250 million to a bank consortium, defaulting unit purchasers, trade creditors, and its general contractor. The case was the first large condominium filing i...

Experience
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
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