(DOWNLOAD) "Wells Fargo Bank V. Arizona Laborers" by Arizona Supreme Court " eBook PDF Kindle ePub Free
eBook details
- Title: Wells Fargo Bank V. Arizona Laborers
- Author : Arizona Supreme Court
- Release Date : January 18, 2002
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 97 KB
Description
¶1 This controversy arises under a triparty agreement between First Interstate Bank ("the Bank"), *fn1 various union pension funds ("the Funds"), and Mercado Developers, a partnership headed by J. Fife Symington, III ("Symington"). In 1987, the Bank funded a $2.3 million loan to a separate Symington partnership for a strip mall development named Alta Mesa Village. The Funds were not involved in the Alta Mesa transaction. Later the same year, Symington approached the Bank to request financing for a construction project in downtown Phoenix called the Mercado Project ("the Mercado"). *fn2 The Bank determined not to provide permanent financing for the Mercado but offered Symington interim construction financing if he were able to secure permanent financing from another lender. The Funds agreed to be that lender.
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