Marine Midland pursues debtors via foreclosure. (Marine Midland Bank of Purchase)

From: Westchester County Business Journal | Date: June 17, 1991| Author: | Copyright information

Marine Midland pursues debtors via foreclosure

Aggressive action touches off legal brushfires as developers battle to save their properties

On May 28, Marine Midland Bank of Purchase initiated foreclosure proceedings against Peppertree, a large residential development in White Plains, marking a third major foreclosure action initiated by the bank this year.

However, Marine Midland faces a series of lengthy legal battles on the way to the auction block. Two earlier foreclosure targets, involving condominium developments in Cortlandt and Peekskill, have launched ...

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