LOS ANGELES – The largest law firm in California that specializes in representing credit unions has taken on the case of five credit unions who charge, among other things, breach of contract against a major auto auction company that allegedly reneged on written agreements to pay the credit unions a stipulated price if it was unable to sell their repossessed vehicles in a stated number of days and caused the credit unions to suffer significant losses.
Barry Smith, Esq. and Jennifer A. Smith, Esq. of Buchalter, Nemer, Fields & Younger filed the complaint Dec. 19 in Superior Court of the State of California on behalf of plaintiffs Glendale City Employees FCU; Kern Central CU; Marion & Polk Schools CU; Fresno Police Department CU; and Colton School Employees FCU.
All of the credit unions except for Marion & Polk Schools CU, are located in California. MAPS CU is headquartered in Salem, Ore., but the vehicle in question was in California, which is why MAPS joined the complaint.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
