Swig must repay $200K loan to ex-father-in-law Macklowe

TRD New York /
Jul.July 10, 2013 11:30 AM

Chalk one up for the former in-laws, developer Harry Macklowe and his wife, Linda.

The Macklowes are going to be getting back the $200,000 that fellow mega-developer Kent Swig borrowed from them in 2009, when he was still married to their daughter, Elizabeth. The settlement in the messy, yearlong legal battle came yesterday in Manhattan Supreme Court, the New York Post reported.

Justice Ellen Coin ordered Swig to repay the personal loan and dismissed Swig’s counterclaim that Harry Macklowe had conspired with Elizabeth to forge Swig’s signature on a $270,000 insurance policy for the couple’s 740 Park Avenue co-op, according to the newspaper.

“While the court understands [Swig’s] frustration with [the Macklowes’] apparent involvement in their daughter’s divorce proceedings, the language of the [loan] note does not mandate [the Macklowes] to oust themselves from [Swig’s] personal life,” Coin said.

Swig, through a spokesperson, told the Post that he is considering an appeal.

The Macklowes filed their lawsuit in May 2012. At the time, Swig was under siege from creditors trying to recoup loans and other investments lost in the 2008 economic crash, as The Real Deal reported. [NYP]Mark Maurer

Related Articles

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Harry Macklowe (Credit: Getty Images)

Macklowe’s brazen Hamptons act recalls Times Square scandal

Harry Macklowe, Linda Macklowe and 432 Park Avenue (Credit: Getty Images)

The latest in Harry Macklowe’s divorce: Linda’s appeal killed in court

A rendering of Tower Fifth with Harry Macklowe (Credit: Getty Images)

Harry Macklowe just got $192M closer to building his Midtown skyscraper

Steven Mnuchin and 740 Park Avenue (Credit: Getty Images, Wikipedia, and Warburg Realty)

Steve Mnuchin’s 740 Park pad just got another price cut

David Koch, 740 Park Avenue and 110 East 76th Street (Credit: Getty Images, StreetEasy, Google Maps)

The many homes of David Koch

Lloyd and Barbara Macklowe and 900 Fifth Avenue (Credit: Getty Images and Google Maps)

Harry Macklowe’s brother Lloyd has sold his Fifth Avenue co-op for $5M

From left: a rendering of Tower Fifth, Harry Macklowe  and 9 East 51st Street (Credit: Google Maps, Getty Images, and New York Times)

Macklowe is eyeing Venezuelan consulate building for his Tower Fifth supertall