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Lockwood International, Inc. v. Wells Fargo Bank, National Association et al
Case Number:
3:17-cv-00365
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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August 17, 2021
5th Circ. Says CEO Must Pay Wells Fargo, Trustmark $58.7M
A Fifth Circuit panel has affirmed a summary judgment order requiring the CEO of several petrochemical companies who defaulted on a revolving line of credit he personally guaranteed to repay Wells Fargo and Trustmark banks more than $58 million, rejecting the CEO's argument that the agreements had been fraudulently induced.
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March 25, 2020
CEO Owes $58.7M To Wells Fargo, Trustmark After Default
A Texas federal judge ordered the CEO of several petrochemical companies on Wednesday to pay Wells Fargo Bank and Trustmark National Bank about $58.7 million after he defaulted on a $72 million revolving line of credit he personally guaranteed.