Loose Lending Practices May Protect Appraisers

Business Valuation UpdateVol. 14 No. 12
Legal and Court Case Update
December 2008

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6021 National Commercial Banks
522110 Commercial Banking
contract
Wells Fargo Business Credit, Inc. v. Dovebid Valuation Services, Inc.
2008 WL 4324231 (N.D. Ill.)
September 18, 2008
US
Federal Court
Illinois
United States District Court
none
Zagel

Summary

Lender attempts to sue appraisal firm after borrower (steel plant) defaults on loan, and forced liquidation is $5 million below appraised asset value.

See Also

Wells Fargo Business Credit, Inc. v. Dovebid Valuation Services, Inc.

Full Text of Court Cases
September 18, 2008

Lender attempts to sue appraisal firm after borrower (steel plant) defaults on loan, and forced liquidation is $5 million below appraised asset value.