Wednesday, October 30, 2013

Cabazon Tribe LOSES $62 million Damages Suit To Wells Fargo

 -- Wells Fargo Bank NA has prevailed in a dispute over a loan agreement with the Cabazon Mission Band of Indians, as a California judge rejected the tribe's arguments that allowing the bank to collect $62 million in damages on a loan for a casino parking garage would cause it “economic devastation.”

Riverside County Superior Court Judge John G. Evans last week granted Wells Fargo's motion for summary adjudication of its breach-of-contract claim against the Cabazon Band, which took out a $56 million loan in 2006 to...

1 comment:

Anonymous said...

What a joke...if they get away without paying I'm sure the other tribes will follow suit and stop paying their debts...the tribe is claiming that the per cap is the only thing that has to be paid first, so they can raise the per cap to make it look like no profit. I wonder how much debt Pechanga has?..