Thursday, July 25, 2024

Legal Emergency: Friars Club Sued Over $13 Million Mortgage Loan on Famed East 55th St. Headquarters


DEVELOPING EXCLUSIVE This is no joke. There are several lawsuits going on against the once fabled Friars Club.

The worst one by far is said to have been filed last Friday on behalf of Kairos Credit Strategies Operating Partnership, LP in the Southern District of New York.

According to an official description, the suit pursues claims against Friars National Association Inc. in connection with a $13 million mortgage loan, which encumbers real property located at 57 East 55th Street in New York. Counsel have not yet appeared for the defendants.

NEC Financial Services is also suing the Friars. And this is funny– Michael Gyure, who ran the Friars until he was convicted of personal tax fraud, is suing them as well. His name rhymes with “jury.”

The Friars Club was one of New York’s great institutions until it was destroyed by people who took it over out of ego and greed. They recently lost their trademark, as well. To see it ravaged in this way is tragic. The people running it have to let go and permit some group to come in and sort this out.

Click here for my past stories about the club.

More to come…

Roger Friedman
Roger Friedman
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.

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