(Source: Philadelphia Business Journal)

Developer Brian O’Neill has sued Citizens Bank of Pennsylvania, seeking about $4 billion in damages, alleging that the bank wrongly demanded the return of a portion of millions it lent O’Neill before the money was due and reneged on long-promised construction financing.

The lawsuit, filed in Philadelphia Common Pleas Court, comes after Citizens secured a $61 million judgment in Montgomery County Court in November regarding what it said were unpaid loans in connection with O’Neill’s sprawling Uptown Worthington project in Malvern, Pa.

Read Jeff Blumenthal’s full article “Developer O’Neill sues Citizens Bank of Pa. for $4B” in the PBJ (January 27, 2010).

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