Laguna Beach Local News
4G Ventures CEO Mohammad Honarkar speaks during a Laguna Beach Business Club meeting at Kitchen in the Canyon in October 2018. Photo by Daniel Langhorne
A Los Angeles County Superior Court judge appointed a new receiver Wednesday to assume control of a prominent Laguna Beach real estate investor’s companies, including the entity managing Hotel Laguna.
In the previously unreported lawsuit filed June 25, Delaware-based Coastline Loans LLC demanded payment from corporations managed by Mohammad Honarkar for a $175 million loan, accrued interest, and attorneys fees.
“Defendants have breached the terms of their respective obligations by various covenants breaches, including but not limited to pending court actions, material representations including but not limited to undisclosed debt, and non-payment of loan fee and interest,” Coastline Loans’ attorney Tom Normandin wrote in the complaint.
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