Quantcast
Home / Opinion Digests / Commercial – Fraud – Defaulting Borrower – Troubled Restaurant (access required)

Commercial – Fraud – Defaulting Borrower – Troubled Restaurant (access required)

An investment fund that bought a government-backed loan used for a beach restaurant can sue the bank that sold it the loan for fraud, based on allegations that the bank knew the borrower had failed to repay a prior loan, made late payments and was subject to garnishment of 35 percent of its gross receipts; ...