Jury finds against C Suisse in real-estate refinancing case


Highland Capital won a $40m jury verdict after successfully arguing Credit Suisse duped the debt manager into refinancing a shaky real-estate development.

Bloomberg News reports that the jury, which began its deliberations December 17, found Credit Suisse 65% at fault last week in state court in Dallas, limiting the judgment.

An appraiser and the developer, who weren’t defendants in the suit, also were found to be responsible.

A lawyer for Credit Suisse said the jury’s calculations cut the bank’s liability to $26m. Settlements by appraisal firms and developers, when credited, 'effectively render this a zero judgment', the lawyer, Jeffrey Tillotson, said in an interview after the verdict.

To access the complete Bloomberg News article hit the link below:

Highland Wins $40 Million Verdict in Credit Suisse Case

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