Wells Fargo v LAKE OF THE TORCHES ECONOMIC DEVELOPMENT CORPORATION
Court Documents
Case No. 09-CV-768
Final Decision issued U.S. Western District Court Judge Rudolph T. Randa dismissed the bank’s lawsuit, which was filed against the Lake of the Torches Economic Development Corporation (EDC).
Randa found that the trust indenture dated Jan. 1, 2008 was a management contract that was executed without the prior OK of the National Indian Gaming Commission, which rendered the agreement “null and void.” At issue are $50 million in bonds purchased in 2008 by Saybrook Capital of California, which sought to force the tribe into receivership after it defaulted on the bonds.
Final Dec. Wells Fargo.PDF — PDF document, 403 KB (412816 bytes)
Document Actions