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Jay-Z filed a lawsuit in Federal Court in New York claiming that Highland Capital Management is attempting to bleed him over a hotel that was never opened.

Jay-Z is suing Highland and NexBank, claiming the companies deliberately dragged on renegotiations of a $52 million loan, which cost the mogul $20,000 per day.

The rap star originally borrowed the $52 million from Column Financial of Manhattan in 2007, which was to be used to open the proposed trendy, J Hotel.

Read the whole story at AllHipHop.com

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