Supreme Court Oral Arguments: Town Bank v. City Real Estate Development
Wisconsin Supreme Court hearing from September 7, 2010. In this case, the Supreme Court is asked to interpret the meaning of a lending contract between a lender and the developmer of a condominium project at the "Wisconsin Tower" in downtown Milwaukee. In May 2004, Town Bank issued a loan committment letter indicating it would provide City Real Estate Development, LLC, with financeing for its condominium project in two phases. In December 2004, Town Bank informed City Real Estate that it would not proceed with the Phase II portion of the loan contemplated in the loan committment letter. Town Bank sought declaration that it had fully performed its obligations. The trial court denied this motion, and the Court of Appeals reversed this decision. City Real Estate asks the Supreme Court to review this decision.