Supreme Court Permits Suit by Developer against Lender
Earlier this month, the Supreme Court allowed a developer to maintain its suit against a lender for defaulting upon its loan commitment. In the case of Basic Capital Management, Inc., et al. v. Dynex Commercial, Inc., ___ S.W.3d ___ (Tex. 2011)(4/1/11), the lender required real estate developer to form single asset entities (SABREs) to finance…
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