August 21, 2016

On August 15, 2016, the New York Law Journal reported on a lawsuit filed by Schlam Stone & Dolan on behalf of Beltway 7 Properties, LLC against BlackRock Inc. and affiliated entities arising out of a Mezzanine Loan Agreement. The lawsuit seeks restitution of approximately $844,000 in late fees and interest charged by BlackRock that Beltway alleges was an unenforceable penalty. Schlam Stone Dolan partner Jeffrey M. Eilender was quoted, saying that “this is a situation where the borrower did everything right. This whole thing is supposed to be analyzed under equity, what is fair.” Beltway is being represented by Mr. Eilender and associate Seth D. Allen.