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vi Philipson, a partner at Paragraph Partners, is facing a lawsuit over loans for nearly a dozen Brooklyn buildings. The case has brought the All Year Holdings team back into the spotlight after a period of relative quiet. U.S. Bank, as trustee for holders of a securitized trust, filed 11 pre-foreclosure actions in Brooklyn Supreme Court last week.

    The actions involve separate loans totaling $25.5 million, with property values ranging from under $1 million to $3.3 million and mostly located in buildings with fewer than 10 units. All Year Holdings founder Yoel Goldman is listed as a defendant in all the filings, while only some list co-founder David Friedman and Philipson's firm.

    The circumstances surrounding each loan are different, but follow similar patterns. For example, at 145 Driggs Avenue, the guarantor allegedly defaulted on a Greystone-originated loan in February. The eight-unit property was last valued by the city at $2.3 million two years ago.

    Philipson acquired All Year's bankrupt Brooklyn portfolio nearly 18 months ago for $43.5 million in equity, representing 10% of the portfolio's overall value of $435 million. He had originally agreed to buy the portfolio for $60 million in 2022 but tried to reduce the price when interest rates soared.

    The restructuring officers took over All Year and put it into bankruptcy in late 2021 after facing threats of lawsuits and foreclosures. The company also sought to sell assets to pay off creditors, including Israeli bondholders.