Credit Suisse Group AG was sued for more than $350 million by Highland Capital Management LP entities that claim the bank marketed loans for the Yellowstone Club in Montana and other developments based on fraudulent appraisals.
Credit Suisse Group AG was sued for more than $350 million by entities of Highland Capital Management LP who claim it marketed loans for high-end residential communities including the Yellowstone Club in Montana based on unreasonable and deceptive appraisals.
Part of Yellowstone Club’s bankruptcy reorganization was overturned by a judge because the ski resort for millionaires settled a lawsuit against Credit Suisse Group AG without giving creditors a chance to object.
Tim Blixseth , co-founder of the Yellowstone Club for millionaires, won dismissal of an involuntary bankruptcy petition filed by Montana in Las Vegas. A lawyer for Montana said the state can refile its petition.
Pfizer Inc. ’s Quigley unit, a former asbestos maker, was denied permission to exit bankruptcy by a judge who found the world’s largest drug company manipulated the bankruptcy process to benefit itself.