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BACM 2001-1 SAN FELIPE RD LTD. v. TRAFALGAR

No. 14-05-00476-CV.

218 S.W.3d 137 (2007)

BACM 2001-1 SAN FELIPE ROAD LIMITED PARTNERSHIP; BACM 2001-1 Grayson Drive Limited Partnership; BACM 2001-1 Lejuene Drive, LLC; Wells Fargo Bank, N.A., Trustee; Carol Johnson, Trustee; Kevin Key, Trustee; Jay Jacobs, Trustee; GMAC Commercial Mortgage Corporation; and Lennar Partners, Inc., Appellants v. TRAFALGAR HOLDINGS I, LTD., Royal St. Moritz I, Ltd., Lexington Royale, Ltd. and RCA Holdings, Ltd., Appellees.

Court of Appeals of Texas, Houston (14th Dist.).

January 11, 2007.

Attorney(s) appearing for the Case

James Stephen Barrick, Murry B. Cohen, Russell L. Reid, Houston, for appellants.

Barrett H. Reasoner, Laura Hanley Carlock, Robin C. Gibbs, Samuel William Cruse III, Houston, for appellees.

Panel consists of Justices ANDERSON, HUDSON, and GUZMAN.

OPINION

EVA M. GUZMAN, Justice.

In this commercial loan dispute, the Borrowers and a related company successfully argued at trial that a group of documents (collectively denominated the "Repayment Agreement") modified the repayment terms of three non-recourse loans, or alternatively, constituted a new contract regarding these loans. On appeal, the Lenders argue that the Repayment Agreement is unenforceable by appellees because it fails to satisfy the Statute...

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