Criimi Mae Inc. and Citicorp Securities Inc. agreed last week to adjourn for four months litigation over $39.7 million of subordinated commercial mortgage bonds that Criimi had pledged as collateral to the Citigroup unit.

Criimi Mae, a real estate investment trust, filed for Chapter 11 bankruptcy protection in October after the value of its commercial mortgage securities plummeted. Criimi was unable to meet margin calls from its lenders, whose appraisals of the securities differed from its own. Several lawsuits ensued.

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