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Judge tosses JPMorgan’s lawsuit against $19M TWC condo

JPMorgan hoped to seize the condo linked to Kabul Chawla

The Time Warner Center at Columbus Circle (inset: Kabul Chawla)
The Time Warner Center at Columbus Circle (inset: Kabul Chawla)

A federal judge has rejected a lawsuit filed by JPMorgan Chase to prevent an Indian developer from transferring the ownership of his $19.4 million apartment at the Time Warner Center.

JPMorgan hoped to seize the apartment at Related Companies’ 25 Columbus Circle as a payment toward a $90 million award against Kabul Chawla, according to the New York Times.

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The condo is registered under the name NYC Real Estate Opportunities, a Delaware company with a Singapore address. But a Times series on the use of shell companies in the building revealed that Kabul Chawla is likely the owner of the five-bedroom unit.

Initially a Manhattan state court judge issued a temporary order prohibiting the sale of the unit, but a federal court judge has now ruled against JPMorgan’s efforts. The judge ruled that there was insufficient evidence to link the condo to Chawla. [NYT] – Christopher Cameron

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