Finance Co. Slams Texas City's Claims In $15M Project Spat

Law360 (November 5, 2020, 5:07 PM EST) -- A Dallas finance company urged a federal court Thursday to toss counterclaims lodged by an Austin, Texas, suburb in a $15 million loan agreement dispute, calling the claims contradictory, procedurally flawed and inappropriately duplicative.

Preston Hollow Capital LLC argues counterclaims filed by the city of Hutto and city development entity Cottonwood Development Corp. in October inappropriately claim simultaneously that the loan agreement is void due to the city's own missteps and that PHC breached the agreement by not providing the entire $15 million amount upfront.

"Put another way, counter-plaintiffs have pled facts that irreparably undermine their breach of contract claim," PHC...

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