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For the second time in about three months, real estate developer Paul Amir has found himself in a battle for ownership of an office building that he developed.
The developer, better known for his Beverly Hills properties, recently filed for Chapter 11 bankruptcy protection on his 4601 Wilshire Blvd. property in the Park Mile district of Los Angeles. The action was taken to stave off a foreclosure on the building that had been initiated by the lender, Bank of America.
Amir's attorney, Ira Karasch of the law firm Pachulski, Stang, Ziehl & Young, stated that the bank's initiating foreclosure proceedings was pay-back for a lawsuit that Amir filed against Bank of America just a few months ago.
"We are suing them on the 8750 case, and they are bitter about that and are using 4601 Wilshire to get back at us," he said. "I think the bank would just like the (8750) lawsuit to go away."
Keenan Wolins, executive vice president of Amir Development Co.,...