Park Avenue Associates, like Bentley Forbes and Childress Klein, as well as hundreds of other real estate developers, were originally targeted by Wells Fargo and and ORIX for routine equity stripping which ended up backfiring. After losing the initial case, ORIX tried to appeal. The appeals court again rejected their bogus claims.

Although Wells Fargo and ORIX's litigation steamroller usually plows over borrowers in the lower courts, this, and all the other major losses (Nomura, Wachovia, Bentley Forbes, Childress Klein, etc.), just go to show that their games stop at the high courts. Not to mention Wells Fargo's devastating loss by the Virginia State Supreme Court who slammed them on the multiple recovery issue against the Lee Hall borrower, Ran Nizan.

However, the question is; who is the real loser? Wells Fargo and ORIX? or the Mortgage Backed Securities (MBS) Trusts that pay for all of the litigation expenses? Every time Wells Fargo and ORIX bring a suit against a borrower on behalf of whatever trust they brought their claims from, the trusts pay for all the litigation. If they win, Wells Fargo and ORIX collect the judgment and the trusts pay the litigation expenses. If they lose, Wells Fargo and ORIX (and their crooked lying attorneys) still make money from the litigation and leave the trusts with the bills.

No matter what, Wells Fargo and ORIX (and their crooked lying attorneys) make big money!!