Wells Fargo Bank v. Revah
Wachovia Bank originated a $6 million commercial loan to defendants Haim Revah and Revah Holdings, Inc. (defendants) in August 2008. Wachovia Bank merged into Wells Fargo Bank, N.A. (Wells Fargo) in March 2010. Several months later, defendants entered into a loan modification agreement with Wells Fargo and signed a new promissory note in its favor. Defendants defaulted on the loan. In June 2014, Wells Fargo initiated this action. Upon Wells Fargo’s application, the superior court issued a right to attach order. The Wells Fargo/Revah documents contained arbitration provisions, and Wells Fargo moved under the CAA to compel “the parties to arbitrate the claims alleged in this action.” Although defendants acknowledged the arbitration agreements and asserted in the 24th affirmative defense that “the claims raised [in the complaint] are subject to a binding arbitration agreement,” they opposed the motion, arguing Wells Fargo waived the right to arbitrate by filing the compl
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