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McWhinney "Wrongful Conduct" Alleged In Lawsuit over Promenade Foreclosure |
Poag & McEwen Accuse McWhinney of Bad Faith Responses to McWhinney lawsuit 65. MCLC [McWhinney] further obstructed P&M efforts to salvage the parties’ joint venture and acted in bad faith by failing to consider or reasonably discuss possible outside investors for the project who could contribute the necessary capital MCLC was refusing to contribute and instead accusing P&M of self-dealing because P&M was searching for possible alternatives that would enable P&M and MCLC to retain some ownership of the Promenade Shops. 66. MCLC and McWhinney further acted in bad faith by contending, on the one hand, that the Centerra property had dropped significantly in value because rents, taxes and extra were too high and/or because of the market collapse, and also objecting, on the hand, to efforts taken by P&M, with MCLC’s assistance and consent, to appeal the tax assessments. 67. Upon information and belief, MCLC and McWhinney took these, and other, inconsistent and contrary positions because after taking one position or making one claim, it discovered that position or claim hurt its overall goals of squeezing P&M out, obtaining title to the Centerra property by purchasing it at a foreclosure sale, competing with the Promenade Shops at Centerra by developing their own competing shopping center site on adjacent property, and/or to increase revenues to the metropolitan district so inter-company loans made by and between the Plaintiffs, and potentially others, could be repaid. 68. In other words, MCLC and McWhinney routinely contradicted themselves when it suited their own needs or when necessary to obtain a personal advantage to P&M’s or Centerra’s detriment or without regard for the affect upon P&M or Centerra. |
Chad McWhinney |