Texas Justices To Hear Credit Suisse's Bid To Ax $287M Award

Law360 (October 4, 2019, 12:05 PM EDT) -- The Texas Supreme Court on Friday agreed to hear a Credit Suisse AG unit's bid to overturn a $287.5 million breach of contract award in favor of a Highland Capital Management LP subsidiary over a bungled land appraisal ahead of a 2007 Las Vegas real estate deal.

The court will hear argument Jan. 8 in the case where Credit Suisse Securities USA contends disclaimers in its contract with Highland's Claymore Holdings LLC bar liability for the allegedly fraudulent appraisal. The bank also argues that contract-reliance disclaimers in the agreement with Claymore mean lower courts never should have ruled it fraudulently induced...

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