Another Important Update Regarding CMB Group 48, The Century Plaza ProjectOctober 15, 2022
Dear Investors and Friends of CMB:
As we told you on October 12, 2022, we retained counsel to investigate and respond to the Notice of Default as well as take affirmative steps to protect and preserve CMB Export Infrastructure Investment Group 48, LP’s (“Group 48) interests as Junior Mezzanine Lender. After consultation with counsel, Group 48 has determined to initiate litigation against the senior lenders to protect its interests. One lawsuit has been filed in the Superior Court of California, Central District for the County of Los Angeles, Case No. 22SMCV01852. A second lawsuit was submitted to the Supreme Court of New York, County of New York. Once we have the case number for the New York complaint, we will post that information.
We appreciate your support as we fight for the rights of our clients.