Wells Fargo Can Bring Bond Claims In Loan Row: 7th Circ.

Law360, New York (September 7, 2011, 3:26 PM EDT) -- The Seventh Circuit partially remanded a decision Tuesday invalidating a $46.6 million loan agreement between Wells Fargo Bank NA and an economic development corporation chartered by a Native American tribe, ruling the bank was entitled to file an amended complaint over a related bond transaction.

The appeals court affirmed that the contract — meant to provide funds for the corporation's new Mississippi casino development — was invalid for not having received approval from the National Indian Gaming Commission, but it found that Wells Fargo should have...
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