Securities
Breach of Promissory Note
Wells Fargo Advisors LLC fka Wachovia Securities LLC v. Daniel Carmo
Published: Jun. 4, 2011 | Result Date: May 2, 2011 | Filing Date: Jan. 1, 1900 |Case number: 09-06883 Arbitration – $285,743
Facts
Wells Fargo Advisors LLC entered into arbitration with Daniel Carmo regarding a promissory note executed on July 15, 2005.
Contentions
CLAIMANT'S CONTENTIONS:
Wells Fargo alleged breach of the promissory note.
RESPONDENT'S CONTENTIONS:
Carmo denied the allegations, asserting various affirmative defenses.
Damages
Wells Fargo sought $285,742.70 for the balance owed under the note, as well as interest, attorney fees, and costs.
Result
The parties reached a settlement for $285,742.80 plus interest and attorney fees.
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