“Shameless”: Suit claims lender uses pandemic to rig foreclosure

The mezzanine lender on a Midtown hotel development tried to take advantage of social distancing rules to rig a foreclosure auction and take over the property, a remarkable new lawsuit alleges. In a complaint filed Thursday, Hidrock Properties accuses Henry Silverman’s 54 Madison Partners of an “improper and shameless attempt to capitalize on the Covid-19 pandemic” and take over the 161-key project at 12 East 48th Street, which is to become a Hilton Grand Vacation

source https://therealdeal.com/2020/05/05/shameless-suit-claims-lender-uses-pandemic-to-rig-foreclosure/