Wells Fargo Says $30M Foreclosure Suit Jumps The Gun
Law360, New York (May 21, 2015, 7:41 PM EDT) -- Wells Fargo & Co. asked a Georgia federal judge Wednesday to dismiss a $30 million lawsuit alleging it has reneged on a mortgage forbearance agreement, arguing all damages were speculative and that bankruptcy proceedings would have prevented it from foreclosing regardless.
The bank told Judge Richard W. Story that the breach-of-contract and fraud lawsuit, which seeks declaratory judgment forcing Wells Fargo to adhere to a forbearance agreement barring it from foreclosing on the metro Atlanta property, is presumptive, as it was filed before the foreclosure was scheduled to happen.
The plaintiffs, who are Georgia property owners and borrowers or guarantors of...
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!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.