Court denies Wells Fargo motion for receiver and Clipper Realty's dismissal motion in 141 Livingston Street lawsuit

Clipper Realty Inc.

On May 13, 2025, the court denied Wells Fargo's motion to appoint a receiver for 141 Livingston Street, stating plaintiff's likelihood of prevailing appears remote.
The court also denied Clipper Realty's cross motion to dismiss the lawsuit, ruling that plaintiff's contentions raise a question of fact.
Lawsuit was filed March 20, 2025 by Wells Fargo as trustee against 141 Livingston Owner LLC and guarantors Clipper Realty Inc. and Clipper Realty L.P.
Company believes claims are without merit and intends to continue to vigorously defend against the lawsuit.

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