BANK GETS LAST RESORT
A federal bankruptcy judge ruled yesterday that a $375 million loan Credit Suisse made to a Montana resort was predatory and should be subordinated to other debts.
Judge Ralph Kirscher wrote in a partial and interim order that the Swiss bank “lined its pockets” on the backs of the Yellowstone Club’s creditors.
Kirscher said Credit Suisse’s actions “were so far overreaching and self-serving that they shocked the conscience of the Court.”
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