August 17, 2021
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.
March 25, 2020
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.