Oheka Castle lender can bid up to $61M in credit for property, judge rules
A lender can use up to $61 million in debt it is owed by the owner of Oheka Castle as part of a bid next week to purchase the prestigious but financially troubled mansion and catering emporium, a federal bankruptcy judge ruled.
Justice Louis A. Scarcella rejected the contention of lawyers for Kahn Property Owner LLC, which owns the castle had tried to improperly meddle with the auction, scheduled for Tuesday.
The lender emerged as the first entity known to have shown an interest in bidding for the property, which includes a hotel and has hosted high-profile weddings for a slew of celebrities.
Click here for more information: https://nwsdy.li/3UNx1F3 (Photo credit: J. Conrad Williams Jr.)
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