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re: What value did NY courts place on MAL?
Posted on 3/22/24 at 6:02 am to tgerb8
Posted on 3/22/24 at 6:02 am to tgerb8
quote:
This is the "fraud" trial right? Can someone refresh me on why NYC has ANY say so over MAL or how "overvaluing" MAL has any effect on NYC?
NY says he overvalued his properties for some loans he got from a NY bank. They say thats fraud. But the loan was repaid and the banks didnt lose a dime.
3
Posted on 3/22/24 at 6:10 am to SECSolomonGrundy
quote:
NY says he overvalued his properties for some loans he got from a NY bank. They say thats fraud. But the loan was repaid and the banks didnt lose a dime.
Yep, there is no complaintant and no victim in this case. Pretty much uprecedented.
Posted on 3/22/24 at 6:16 am to SECSolomonGrundy
The debate always starts at point A, never let the other side start at point B and "assume" point A.
In this case its not what the judge valued the properties at, its whether the banks filed suit because they were harmed. In this case the banks valued the assets used for the loan and deemed them sound for the amount requested.
This and the "rape" case should scare the shat out of any normal citizen.
In this case its not what the judge valued the properties at, its whether the banks filed suit because they were harmed. In this case the banks valued the assets used for the loan and deemed them sound for the amount requested.
This and the "rape" case should scare the shat out of any normal citizen.
Posted on 3/22/24 at 8:59 am to SECSolomonGrundy
quote:
NY says he overvalued his properties for some loans he got from a NY bank. They say thats fraud. But the loan was repaid and the banks didnt lose a dime.
I understand the gist of the case I just don't get how NYC is able to claim any damages. Was it because the bank was exclusively NYC? if it were a national/international bank could the AG in every city that has a branch sue him? was the loan used to build in NYC? Will they subtract any revenue created by the buildings?
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