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It's a Downtown Turf War

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Sonny Astani isn't the only one using a media campaign to hurl poison darts at creditors. Meruelo Maddux put out a press release this week, accusing East West and Legendary Investors of attempting a hostile takeover, and suggesting that East West is using TARP money aka bailout money to complete that takeover of Meruelo Maddux, which is currently in Chapter 11. Richard Meruelo talks to the Pasadena Star-News, while a rep for East West defends the bank's actions. [PR Newswire/PSN]