Judge Rules Against Nir Meir over Loan Defaults
By the time the lender sued HFZ, Feldman, and Meir in November, the developer was already in financial ruin. A month later, Meir left the company and HFZ was facing foreclosures, liens and allegations of wrongdoing from subcontractors. Making lender YH Lex Estates even more nervous, Feldman and Meir were selling off their personal residences — assets that could be used to satisfy the guarantees on HFZ’s loans. The Southampton estate Meir was unloading, built in 2017, had been appraised at about $40 million. YH Lex Estates tried but failed to stop the sale, which closed in early April. But...
Source: therealdeal.com