9/17/2023 0 Comments Armand assante children![]() Assante says Nugent & Haeussler and Flanagan did not disclose Eastern's subprime history, and claims breach of fiduciary duty and malpractice.įlanagan could not be reached for comment. ![]() A hearing is scheduled for Tuesday in Bankruptcy Court in Poughkeepsie.Īssante is challenging Montgomery accounting firm Nugent & Haeussler and a former employee, Timothy Flanagan, in another action, which was dismissed by a judge but is currently on appeal. The bank is seeking to have Assante's lawsuit dismissed. In 2009, the Office of Thrift Supervision cited the bank in a cease-and-desist order for not properly underwriting loans and not obtaining complete financial information from borrowers, among other issues. In it, the actor rehashes earlier claims against the bank to try to avoid paying back the balance of the mortgage altogether or lower the priority of the money he owes, allowing other creditors to be paid first.Įastern's lending practices have drawn regulatory scrutiny. The loan increased his monthly payments and unnecessarily collateralized all three of his properties, preventing him from selling one to pay the balance, according to court filings.Īssante's March lawsuit against Eastern is the latest chapter in his legal saga. The 62-year-old actor, currently in Chapter 11 bankruptcy, is waging a legal war against Eastern Savings Bank in Maryland, which consolidated five loans on his Campbell Hall properties, a total of 222 acres, into one $1.5 million note that he and his attorneys say was predatory. On his home turf in Orange County, Assante's foe is a little less mythic, but the tale is just as epic. Campbell Hall resident Armand Assante, playing Odysseus, battled Cyclops in the Emmy-winning TV miniseries "The Odyssey." ![]()
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