Wells Fargo Can’t Shed Claims In $101M Construction Loan Suit
Law360, New York (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.
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