Wells Fargo Wins $62M Casino Loan Dispute With Tribe

Law360, Los Angeles (October 29, 2013, 9:58 PM EDT) -- Wells Fargo Bank NA has prevailed in a dispute over a loan agreement with the Cabazon Mission Band of Indians, as a California judge rejected the tribe's arguments that allowing the bank to collect $62 million in damages on a loan for a casino parking garage would cause it “economic devastation.”

Riverside County Superior Court Judge John G. Evans last week granted Wells Fargo's motion for summary adjudication of its breach-of-contract claim against the Cabazon Band, which took out a $56 million loan in 2006 to...
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