Comments on: At Last - RICO Suit Against HSBC Over Household International http://householdwatch.com/wp/2004/10/25/at-last-rico-suit-against-hsbc-over-household-international News Release - HSBC news, articles, and editorials Wed, 15 Oct 2008 23:58:42 +0000 http://wordpress.org/?v=1.5.2 Comment on At Last - RICO Suit Against HSBC Over Household International by: Kline Preston’s Legal Blog » Blog Archive » Mortgage borrowers file RICO lawsuit http://householdwatch.com/wp/2004/10/25/at-last-rico-suit-against-hsbc-over-household-international#comment-13452 Fri, 26 May 2006 15:55:20 +0000 http://householdwatch.com/wp/2004/10/25/at-last-rico-suit-against-hsbc-over-household-international#comment-13452 [...] Two former Tennessee customers of nationwide mortgage lender Household International are charging in a Nashville federal court that the corporation was functioning as a racketeering operation when it offered misleading loan terms to its potential clients. The allegations are, in part, a reprise of the charges underlying a $484 million settlement reached in 2002 between Household and 50 state attorneys general who were investigating predatory lending in the ‘’sub prime’’ lending market, which specializes in high-cost loans for those with low credit ratings.  [...] […] Two former Tennessee customers of nationwide mortgage lender Household International are charging in a Nashville federal court that the corporation was functioning as a racketeering operation when it offered misleading loan terms to its potential clients. The allegations are, in part, a reprise of the charges underlying a $484 million settlement reached in 2002 between Household and 50 state attorneys general who were investigating predatory lending in the ‘’sub prime’’ lending market, which specializes in high-cost loans for those with low credit ratings.  […]

]]> Comment on At Last - RICO Suit Against HSBC Over Household International by: Research http://householdwatch.com/wp/2004/10/25/at-last-rico-suit-against-hsbc-over-household-international#comment-8721 Mon, 20 Mar 2006 17:41:39 +0000 http://householdwatch.com/wp/2004/10/25/at-last-rico-suit-against-hsbc-over-household-international#comment-8721 Tuesday, February 14, 2006 BILLY SUDDARTH, JR, ET AL. v. HOUSEHOLD COMMERCIAL FINANCIAL SERVICES, INC., ET AL. Court: TCA Attorneys: G. Kline Preston, Nashville, Tennessee, for the appellants, Billy Suddarth, Jr., and Angela Suddarth. Neal H. Levin, Chicago, Illinois, and D. Alexander Fardon, Nashville, Tennessee, for the appellee, Household Commercial Financial Services, Inc. Judge: CLEMENT Billy Suddarth, Jr. and Angela Suddarth appeal the summary dismissal of their action, which was dismissed on the grounds of res judicata, collateral estoppel, the Full Faith and Credit Clause, and the compulsory counterclaim rule of the Federal Rules of Civil Procedure. In the former action in the United States District Court for the Northern District of Illinois wherein the Suddarths were defendants, Household Commercial Financial Services, Inc. alleged the Suddarths breached a guaranty agreement by failing to pay a deficiency owing on the underlying credit agreement they had guaranteed. Household prevailed on the merits in the former action against the Suddarths. In the present action in the Circuit Court of Davidson County the Suddarths allege fraud, fraudulent inducement and civil conspiracy against Household and two other defendants concerning the guaranty agreement that was the subject of the former action in the United State District Court. The present claims by the Suddarths arose out of the same transaction or occurrence that was the subject of Household's action in the United State District Court; therefore, it was compulsory that the Suddarths' claims be presented in the former action. The Suddarths failed to do so. Therefore, we affirm the dismissal of this action. http://www.tba2.org/tba_files/TCA/2006/suddarthb021406.pdf Tuesday, February 14, 2006

BILLY SUDDARTH, JR, ET AL. v. HOUSEHOLD COMMERCIAL FINANCIAL SERVICES, INC., ET AL.

Court: TCA

Attorneys:

G. Kline Preston, Nashville, Tennessee, for the appellants, Billy Suddarth, Jr., and Angela Suddarth.

Neal H. Levin, Chicago, Illinois, and D. Alexander Fardon, Nashville, Tennessee, for the appellee, Household Commercial Financial Services, Inc.

Judge: CLEMENT

Billy Suddarth, Jr. and Angela Suddarth appeal the summary dismissal of their action, which was dismissed on the grounds of res judicata, collateral estoppel, the Full Faith and Credit Clause, and the compulsory counterclaim rule of the Federal Rules of Civil Procedure. In the former action in the United States District Court for the Northern District of Illinois wherein the Suddarths were defendants, Household Commercial Financial Services, Inc. alleged the Suddarths breached a guaranty agreement by failing to pay a deficiency owing on the underlying credit agreement they had guaranteed. Household prevailed on the merits in the former action against the Suddarths. In the present action in the Circuit Court of Davidson County the Suddarths allege fraud, fraudulent inducement and civil conspiracy against Household and two other defendants concerning the guaranty agreement that was the subject of the former action in the United State District Court. The present claims by the Suddarths arose out of the same transaction or occurrence that was the subject of Household’s action in the United State District Court; therefore, it was compulsory that the Suddarths’ claims be presented in the former action. The Suddarths failed to do so. Therefore, we affirm the dismissal of this action.

http://www.tba2.org/tba_files/TCA/2006/suddarthb021406.pdf

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