Failed Sonoma Valley Bank bad loans made to Bijian Madjlessi were finally foreclosed upon by Westamerica Bank successor of most of the assets of SVB. The judgement is said to range near $9 million.
This is the same project that Sean Cutting made a forbearance to with very unusual terms just days before the bank failed. This agreement tied Westamerica Banks hands and gave Madjlessi considerable wiggle room resulting is costly delays in foreclosure.
Petaluma Greenbriar is an apartment that was slated for condo conversion that was never completed.
Details to follow as available.
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