Credit Suisse's 'Predatory' Loan Draws Judge's Ire

Law360, New York (May 13, 2009, 12:00 AM EDT) -- Accusing Credit Suisse Group AG of "naked greed" in offering a $375 million loan to ritzy private ski and golf community The Yellowstone Club just before its Chapter 11 filing, a bankruptcy judge has ruled that the bank's $232 million secured claim must take a back seat to several other claims.

Judge Ralph Kirscher of the U.S. Bankruptcy Court for the District of Montana said in a preliminary order filed Tuesday that the loan the bank offered to the club was predatory. Credit Suisse received fees...
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