{"id":5499,"date":"2013-07-17T00:00:00","date_gmt":"2013-07-17T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/07\/highland_capital_sues_credit_s"},"modified":"2022-01-13T12:11:26","modified_gmt":"2022-01-13T18:11:26","slug":"highland-capital-sues-credit-s","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/highland-capital-sues-credit-s\/","title":{"rendered":"Highland Capital Sues Credit Suisse For $350M Over Resort Loans"},"content":{"rendered":"\n

Entities of Highland Capital Management LLP are suing Credit Suisse Group AG (CS) for over $350M. The plaintiffs are Haygood LLC and Allenby LLC. They claim that the financial firm marketed loans for high-end residential communities using appraisals that were deceptive and not reasonable. The disagreement is related to dividend capitalization loans for the Turtle Bay Resort, the Yellowstone Club, Ginn Clubs & Resorts and Rhodes Homes and the Park Highlands Master Planned Community. The securities case was filed in New York State Supreme Court. <\/p>\n

According to the financial fraud lawsuit, managed investment funds that served as the loans\u2019 lenders assigned the plaintiffs the claims. The latter are accusing Credit Suisse of working with \u201ccompliant stooges\u201d in global appraisal firms to overvalue the communities that secured the loans so that lenders would invest in under-collateralized loans that would go on to fail. <\/p>\n

A spokesperson for Credit Suisse says that Texas-based debt manager Highland Capital Management and entities related to it are behind this securities case and that this is one sophisticated investor\u2019s \u201cunfounded\u201d effort to wrongly use the legal system to get back losses. The investment bank says it will fight the case.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Entities of Highland Capital Management LLP are suing Credit Suisse Group AG (CS) for over $350M. The plaintiffs are Haygood LLC and Allenby LLC. They claim that the financial firm marketed loans for high-end residential communities using appraisals that were deceptive and not reasonable. The disagreement is related to dividend capitalization loans for the Turtle […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3817,3752],"tags":[2617],"class_list":["post-5499","post","type-post","status-publish","format-standard","hentry","category-credit-suisse","category-financial-firms","tag-resort-loans"],"yoast_head":"\nHighland Capital Sues Credit Suisse For $350M Over Resort Loans — Investor Lawyers Blog — July 17, 2013<\/title>\n<meta name=\"description\" content=\"Entities of Highland Capital Management LLP are suing Credit Suisse Group AG (CS) for over $350M. The plaintiffs are Haygood LLC and Allenby LLC. 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