Litigation
Jan. 9, 2013
Judge upholds $1.5 million Cathay Bank award
A Los Angeles County Superior Court judge left intact a $1.5 million arbitration award levied in June against a former city official.
By Blake Edwards
Daily Journal Staff Writer
A Los Angeles County Superior Court judge left intact a $1.5 million arbitration award levied in June against a former city official.
Theodore O. Stein Jr., a former airport commissioner and city attorney candidate in Los Angeles, brought a claim against Cathay Bank alleging the company breached an oral agreement to extend loans made to Stein and his development company, Laurel Canyon-Chelsea LLC.
Cathay, represented...
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