Bloomberg, The New York Post, April 30, 2010
Appaloosa Investment LP, the hedge fund run by David Tepper, lost a legal bid to join in a lawsuit to foreclose on Manhattan's Stuyvesant Town and Peter Cooper Village apartments, New York's largest residential enclave.
US District Judge Alvin Hellerstein in Manhattan said that Appaloosa had no legal right to "intervene" in the suit.
Appaloosa opposes foreclosure because it says it may lose hundreds of millions of dollars if foreclosure proceeds.