Highland Capital Seeks $250 Million In Damages From Credit Suisse22percent
In 2008, Highland Capital and Credit Suisse Group AG (ADR) (NYSE:CS) entered business together over Highland’s investment in Lake Las Vegas, a resort community real estate development. Highland received an appraisal from Credit Suisse in earlier years, which valued the 3,582 acre property at $891 million from $522 million in 2007. With the appraisal, Highland Capital used the property as collateral against a $540 million loan. However, the deal defaulted, the property was sold for pennies on the dollar, for $17 million and Highland saw massive losses. All the while, Credit Suisse collected $20 million in fees . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible