Court says it won’t stop foreclosure of Perkins Rowe

The U.S. 5th Circuit Court of Appeals will not stop the foreclosure sale of Perkins Rowe by KeyBank National Associates, the Ohio lender that is trying to take back the mixed-use development from developer Tommy Spinosa. At least, not for now. In a ruling issued earlier this week, the appeals court denied Perkins Rowe’s writ of mandamus to stay the case, which means it won’t force the U.S. District Court in Baton Rouge to put the brakes on the proceedings. The 5th Circuit could still hear Spinosa’s appeal on the merits of the case, however. His attorneys have filed separate writs requesting as much. A response from KeyBank is pending. In the meantime, KeyBank is “moving forward with the foreclosure sale,” according to KeyBank spokesperson Laura Mimura. Spinosa’s attorney Mark Beebe did not return a call for comment. —Stephanie Riegel