Bankruptcy Law

15 Ways To Determine The Leading Foreclosure Attorney For Your Litigation

Foreclosure Attorney

Some Basic Insights On Rudimentary Secrets

Mark Fields, managing member of Thames River Landing, did not return phone calls seeking comment on the foreclosure action Tuesday. Two minority members of Thames River Landing LLC supported Castanho’s foreclosure action , expressing frustration in interviews in November that Fields had failed to secure development proposals for the property despite interest expressed by potential developers. Brendan Kennedy and Anna Valente said they looked forward to Castanho taking over the property and the search for a developer. Kennedy repeated those comments Tuesday, and said Fields also failed to inform the minority partners of the mortgage foreclosure proceedings. “It’s been a long, drawn-out process,” Kennedy said Tuesday. “We were all part of Thames River Landing, and we’ve had no communication. I haven’t spoken with (Fields). Even though we’re not majority owners, we should have been kept informed. There’s been no communication. I think the city and everyone else would like to see something there, and the Mohegans as well.” The property abuts the 393-acre former Norwich Hospital property in Preston. In 2017, Preston town leaders reached a purchase and sale agreement with Mohegan Gaming & Entertainment for the entire Preston portion, now called Preston Riverwalk, for a planned $200 million to $600 million commercial, recreational, sports, retail and residential complex. The transfer is pending the town’s final environmental cleanup of the property. A detailed appraisal of the 49.65-acre Norwich property, done by Valbridge Property Advisors of Hartford for the foreclosure, calculated the fair market value of the property at $620,000.

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