Highland Capital Management attempts to recoup losses from C Suisse

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Highland Capital Management asked a Texas judge to order Credit Suisse to pay the debt manager its losses on a $250m refinancing of a shaky real-estate development

Bloomberg News reports that Highland’s Claymore Holdings argues in the nonjury trial that Credit Suisse broke a contract by providing an inflated appraisal for a loan for Lake Las Vegas, a 3,592-acre residential and resort community that filed for bankruptcy in 2008.

The trial, which began in Dallas Wednesday, is Highland’s second attempt to collect investment losses from Credit Suisse over the project. Highland won a $40m jury verdict in December on its claim that Credit Suisse used a faulty appraisal to dupe it into investing.

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

Highland Asks to Recoup $250 Million Loss From Credit Suisse

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