Wells Fargo, Others Say Forced Bankruptcy Suit Lacks Facts

Law360, New York (October 2, 2012, 3:54 PM EDT) -- Wells Fargo Bank NA, Bank of Montreal and Prudential Insurance Co. of America pressed a Texas federal judge Monday to toss an oil industry contractor's suit alleging they pushed it into bankruptcy, arguing the contractor had not presented enough facts to support its allegations.

Texas-based Conex International LLC is accusing creditors Wells Fargo, BMO and Prudential of orchestrating an elaborate plot to get repayment on a $150 million loan by forcing Conex, which services the refining and petrochemical industries, into involuntary bankruptcy.

But in a motion...
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