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Jay-Z Files Lawsuit Over Hotel Loan

By: UrbanHustler.com

Shawn "Jay Z" Carter is suing financing firm Highland Capital Management LP over a 2007 loan to build a hotel in Manhattan’s west side neighborhood of Chelsea, which was to be called the J Hotel.

"This action arises out of the efforts by defendants to bleed additional funds from the plaintiff," Carter's lawyers stated in legal documents.

Carter is seeking a declaratory judgment that he has met those obligations. He’s also seeking damages of more than $3.7 million for the additional interest and other costs incurred while still being held liable under the agreements.

Tags: Feature, Shawn "Jay Z" Carter

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