Jay-Z News: Jay-Z Files Lawsuit Against Lender For Hotel Loan

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In the words of the Notorious B.I.G., "More money, more problems." That phrase holds weight with hip-hop superstar Jay-Z.

According to Reuters, the rapper filed a lawsuit against investment firm, Highland Capital Management LP, in New York this week, claiming they tried to "bleed" $3.7 million from him over a loan to develop a hotel in New York's trendy Chelsea neighborhood.

In court documents, Jay (real name: Sean Carter) says his company bought the property in August 2007, and obtained a $52-million senior loan -- as well as a $11.8 million junior loan. However, when real estate market began to decline,...