Insurer Settles Wells Fargo Suit Over $8M In Loans

Law360, New York (August 5, 2011, 1:43 PM EDT) -- Spring Hill Insurance Co. and its affiliates on Wednesday resolved a Wells Fargo Bank NA breach of contract suit in Alabama over $8 million in real estate financing Wachovia Bank NA provided before it merged with Wells Fargo.

The court dismissed Wells Fargo’s suit after the defendants made two payments to the bank, resolving claims Spring Hill and four other limited liability companies failed to repay loans that came due in August 2010.

Wells Fargo filed suit in September in an effort to recover more than...
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