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.
More to come…