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


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