Investors in broke resorts such as Tamarack want documents unsealed
BOISE, Idaho (AP) -- Resort property owners suing an international bank over allegations of a loan-to-own scheme say the firm has wrongly sealed thousands of pages of documents in the court case.
The lawsuit was brought by property owners at resorts in the West and in the Bahamas against Credit Suisse in 2010. They claim the bank set up an offshore branch to skirt U.S. rules, appraised resorts at inflated prices and then provided loans with the aim to foreclose. Credit Suisse has firmly denied those allegations.
Both sides agreed in April that some documents in the case should be kept from public view because they contain confidential information. On Tuesday, the property owners asked a federal judge to lift that designation, saying it was being overused.