Reuters reports that a former Dewey & LeBoeuf partner who has been accused by Citibank of defaulting on a loan is making a provocative countercharge: He claims the bank participated in a "fraudulent scheme" to help a few leaders of the now defunct law firm hide Dewey's dire financial situation from him and the broader partnership.
In a 23-page motion filed in New York federal court this
month, former Dewey partner Steven Otillar argues that he and other partners
were "fraudulently induced" into signing up for a Citibank loan
program that financed their capital contributions to the firm. The motion was
filed in response to a request made by Citibank in May for summary judgment. In
its lawsuit, Citibank argues that Otillar has no legal grounds to claim he
doesn't owe payment on the loan....
Fascinated? Find out more at http://in.reuters.com/article/2012/08/31/usa-dewey-citibank-loan-dispute-idINL2E8JVFW420120831
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