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Landmark Theaters’ Owner Charles Cohen Files Notice To Appeal Ruling On Personal Loan Guarantee
New York real estate mogul Charles Cohen has filed a notice to appeal a court ruling in his battle with Fortress that found him liable for a $187 million personal loan guarantee pending an auction of Landmark Theaters and other assets.
Fortress sued Cohen last spring for defaulting on a $530 million loan backed by the properties and asked the judge to force a sale, which would be one of the largest in New York real estate history under the so-called Uniform Commercial Code (UCC). The court eventually agreed to Nov. 8 auction date for the assets, which, according to legal filings, also include the British arthouse chain Curzon, two hotels, a design center and an office tower. Issues raised in his six-page notice include whether the Supreme Court judge should have rejected Cohen’s motion to dismiss, and whether a default actually occurred.
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