The Real Deal New York

Swig claims Macklowe is out to bankrupt him

May 07, 2012 08:30AM

Embattled real estate tycoon Kent Swig has replied to a suit from Harry Macklowe, for allegedly staging a “vendetta” to ruin him financially, the New York Post reported. The reply was filed in Manhattan Supreme Court. Macklowe filed suit in March to attempt to collect on a $200,000 loan he allegedly provided to his daughter’s husband, who has developed $3 billion worth of properties.

Swig believes he shouldn’t have to repay because of a provision in the loan agreement that prohibited Macklowe from collecting the debt if it would involuntarily force Swig to bankruptcy, the Post said.

But Swig used the reply to shed light on a whole host of financial disagreements between he and his father-in-law. Macklowe is behind five lawsuits against Swig, according to his complaint, including litigation over the Swigs’ apartment at 740 Park Avenue and their Southampton home, the Post said.

The legal battles are being waged just as Macklowe’s daughter and Swig endure a lengthy divorce battle. Swig allegedly cheated her and their kids out of millions, according to her court filing. [Post]