Wells Fargo Can't Shed Claims In $101M Construction Loan Suit
By Natalie Rodriguez (November 1, 2012, 4:13 PM EDT) -- A Texas federal judge on Wednesday denied Wells Fargo Bank NA's motion to dismiss counterclaims in one of three soon-to-be-consolidated suits lodged against a developer and its guarantors over $101.4 million in unpaid construction loans, but approved its motion to stay discovery.
Denying the dismissal motion without prejudice, U.S. District Judge Sam A. Lindsay ordered Wells Fargo to file a new complaint by Nov. 21 consolidating three suits it has lodged at Carbon Thompson Development LLC and its various affiliates over defaulting on the loans so he doesn't have to rule on the same issues in a piece-meal fashion.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!