5th Circ. Revives Highland Loan Sale Dispute With BofA

Law360, New York (October 3, 2012, 2:19 PM EDT) -- The Fifth Circuit on Tuesday resurrected Highland Capital LP’s suit accusing Bank of America NA of reneging on a deal to sell a $15.5 million loan, ruling Highland’s allegations over whether an oral agreement was binding or not needed further consideration.

In a published decision, the three-judge appeals panel agreed that U.S. District Judge Sam A. Lindsay had properly dismissed the credit management company’s promissory estoppel claim because it was not necessary to decide whether BofA had made a “clear and unambiguous promise” regarding the deal....
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