- Legal News Updates
- Law Center
- Legal Business
- Court News Center
- Law Firm News
- Legal Interviews
- Headline News
- Political and Legal
- Practice Focuses
- Legal Spotlight
- Events & Seminars
- Legal Marketing
- Court Watch
- Immigration Law
- Media Center
- Justice Stories
- Court: Man can't be retried for murder after mistrial ruling
- Michigan Democrats back Nessel for state attorney general
- Question of sales tax on online purchases goes to high court
- Supreme Court again refuses to hear Blagojevich appeal
- Court hears case alleging unconstitutional 6th District gerrymander
- Maryland redistricting case comes before Supreme Court
- Courts weighing numerous challenges to political boundaries
- Arkansas wants court to dissolve stay for death row prisoner
- TransCanada doesn't have to pay landowner attorneys
- Martin Shkreli cries in court, is sentenced to 7 years for securities fraud
The lawsuit from property owners at Idaho's Tamarack Resort, the Yellowstone Club in Montana, Nevada's Lake Las Vegas resort and the Ginn Sur Mer Resort in the Bahamas is backed by Yellowstone Club founder Tim Blixseth. The plaintiffs allege Credit Suisse inflated the value of the resorts and issued loans so large to developers that they could never be repaid in hopes of foreclosing on the properties as part of a so-called "loan to own" scheme.
Credit Suisse contends the lawsuit is baseless and that Blixseth is just trying to escape blame for the financial problems at the ultra-exclusive Yellowstone Club.
Roughly two dozen attorneys representing the plaintiffs, Credit Suisse and real estate consultant Cushman & Wakefield gathered before U.S. District Judge Ronald Bush in Boise on Thursday to argue over several motions, including one to have the lawsuit dismissed and one to have Cushman & Wakefield reinstated as a defendant. The real estate consultancy was listed as a defendant when the case was originally filed in 2010, but last year U.S. District Judge Edward Lodge dismissed all the claims against the company.
One of Credit Suisse's attorneys, David Lender, told the court that the plaintiffs have never been able to show there was any misrepresentation made to the homeowners by the bank.
Legal News Media
Legal News Organization press is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. The content contained on the web site has been prepared by Legal News Media as a service to the internet
community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.