Downtown developer Sonny Astani hands over Concerto

The crazy, convoluted case seems to be over. A bankruptcy judge has approved a settlement that turns over the tower - plus a second unbuilt site - to Corus Construction Ventures, the entity that bought Astani's loan on the project. As part of the deal, Astani is paid $9.5 million to disappear. From Curbed LA:

Under the deal, the roughly $1 million owed to contractors and other parties who worked on Concerto, will be paid by both Astani and CCV. Notably, Astani and CCV are forbidden from publicly disparaging each other for two years, according to the settlement. (Followers of this legal fight will remember that Starwood's Barry Sternlicht called Astani an "extortionist," while Astani took out full-page ads in various publications attacking Starwood.) But now, Astanti's web site, Starwood Killed My Job, is down. Both parties are also not allowed to talk about the details of the settlement, according to the legal document.

Some backstory from the WSJ:

The 2009 failure of Corus Bank, a Chicago-based unit of Corus Bankshares Inc., put the $163 million construction loan used to finance Mr. Astani's project in the hands of the Federal Deposit Insurance Corp. The loan now is controlled by a partnership of the FDIC and an investor group led by Starwood Capital Group, part of an unusual public-private push to increase returns on loans and real estate inherited by the FDIC.