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Texas appeals court upholds ruling denying PlainsCapital Bank damages over $29m Ponzi-linked loan

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A Texas appeals court has upheld a lower court's decision in a dispute involving PlainsCapital Bank. The bank sought to recover money tied to a $29 million loan guarantee linked to a Ponzi scheme. Although the bank conceded the contract defenses raised against it, the court found its evidence insufficient to support the full guaranteed amount. As a result, the bank was unable to establish recoverable damages and lost its claim.

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