Calif. Tribe Asks NY Court To Nix Wells Fargo Loan Suit

By Andrew Westney (August 29, 2019, 5:08 PM EDT) -- The Picayune Rancheria of Chukchansi Indians of California urged a New York state court Wednesday to toss Wells Fargo's suit that claims the tribe is trying to avoid making payments on a $250 million loan for its casino, saying that its refinancing of the loan was legitimate and the bank isn't allowed to bring its suit under the parties' agreement.

Wells Fargo hit the tribe and the Chukchansi Economic Development Authority with a complaint in July, claiming they had concocted a scheme designed to withhold cash payments that should go toward $250 million in secured notes for which the bank serves...

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