Fortress Investment Group

A New York Supreme Court judge has delayed Fortress Investment Group’s $534 million foreclosure against Charles Cohen’s real estate assets, ruling that the planned auction was not “commercially reasonable.” Cohen’s firm argued that they had not defaulted on the loan due to a prior modification agreement with Fortress. The judge has allowed Fortress to submit a revised foreclosure plan by July 15, giving Cohen’s team until July 29 to respond. This delay may offer Cohen a chance to address the financial issues or postpone the foreclosure.