Connecticut firm shifts lawsuit from district to federal court
Attorneys for the Connecticut investment firm Five Mile Capital Partners have shifted a lawsuit against them concerning the foreclosure of the Town Square office and retail center to U.S. District Court.
The case, originally filed in Clark County District Court, contends that Five Mile worked covertly to oust developer Jeffrey Soffer from his ownership position in 2011 while outwardly acting has his partner in loan restructuring negotiations. Five Mile would up being the owner when lenders, including Five Mile, halted the talks.
Soffer is claiming $300 million in damages.
The case was originally assigned to Clark County District Court Judge Allan Earl, who sided with lenders and went against Soffer in a related case.
However, in his ruling from the bench on July 23, Earl said, "(I) have very strong feelings about Five Mile's role in this. They aren't pleasant feelings. They stole this, and to use really unconventional language, (that) pisses me off."
Contact reporter Tim O'Reiley at toreiley@reviewjournal.com or 702-387-5290.
