On Tuesday, May 12, 2009, according to an article in NewWest.net, U.S. Bankruptcy Court Judge Ralph B. Kirscher declared, "that Credit Suisse actions in making a $375 million loan to the Yellowstone Club were "so far overreaching and self-serving that they shocked the conscience of this court," U.S. Bankruptcy Court Judge Ralph B. Kirscher on Tuesday ruled that Credit Suisse's secured claim to $232 million of the remaining $310 million loan balance would be "subordinated" to the claims of tradesmen, vendors and other unsecured creditors in the case."
Taunya, sounds like this is one ruling in favor of "the little guy." Good for Judge Kirschner.
Thanks for the comment, Maria. For months we have been attentively watching this case.