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BBX Capital Corporation Message Board

  • centurionguy26 centurionguy26 Sep 5, 2013 11:59 AM Flag

    I could only imagine the rage that Levan felt

    The original dispute was over two loans, totaling $36.5 million, issued to PGA Flyover Corporate Park by BankAtlantic in 2005 and 2006 and guaranteed by Catalfumo, according to court documents. BBX inherited the loans as a successor to BankAtlantic.

    Three days before one of the loans was set to mature, Catalfumo established an offshore trust and transferred $25 million there, BBX claimed. Over the next year, while litigation over the unpaid loans was proceeding in Florida state court, he transferred additional funds for a total of $64 million, according to BBX.

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