Treetop Development LLC, a bankrupt developer of an unfinished Los Angeles mega-mansion run by celebrity developer Mohamed Hadid, sued a lender, accusing it of intentionally withholding financing in a bid to take over the property.
Treetop’s lawsuit, filed Thursday in the US Bankruptcy Court for the Central District of California, accused the lender, Skylark Capital Management LLC, of providing only about $30 million of a $93 million loan intended to finance the construction of two luxury residences on a 27-acre estate in Beverly Hills.
The loan withholding “slowed and hindered the construction, caused plaintiff to seek funds previously promised by ...
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