Miller Barondess Successfully Defends $50 Million Lender Liability Claim, and Obtains $1 Million in Attorneys’ Fees

The Firm recently defended East West Bank against a sophisticated commercial real estate developer seeking more than $50 million in damages.  The borrower received a multi-million dollar construction loan from the Bank to develop the infrastructure of his property.  When the project failed midway through construction, the borrower sued the Bank, alleging, among other things, that he had been fraudulently induced into accepting the loan based on an inflated appraisal commissioned by the Bank.  We prevailed on every motion that we filed in the case and successfully dismissed all 13 of the borrower’s claims against the Bank at the pleadings and summary judgment stages.  In addition, we obtained an attorneys’ fee award for our client in excess of $1 million.  Read Article