Investment Firm Wins $1.3M In Suit Over Tousa Claims

Law360, New York (June 13, 2011, 2:20 PM EDT) -- A Texas federal jury on Thursday awarded investment firm Fulcrum Credit Partners LLC $1.27 million in a contract dispute over $45 million worth of claims against bankrupt homebuilder Tousa Inc.

According to Fulcrum, it reached an agreement in February 2010 to buy the claims against Tousa from Strategic Capital Resources Inc., but the financing company backed out of the deal before the end of the month. Fulcrum responded by suing Strategic Capital.

"At the eleventh hour, Strategic Capital reneged and later told Fulcrum it instead accepted...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.