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Contracts

Nov. 15, 2024

Farm family's financial woes may mean trouble for Central Valley

In a complaint filed this week, U.S. Bank National Association claimed several family members and associated trusts breached their contracts by failing to pay back a series of loans that began in 2012. The family has now defaulted, with an outstanding principal of more than $150 million.

Legal troubles are piling up for a prominent Fresno County farming family. The woes of the Assemi family could also mean trouble for the wider Central Valley farming economy.

In a complaint filed on Wednesday, U.S. Bank National Association claimed several family members and associated trusts breached their contracts by failing to pay back a series of loans that began in 2012. The family has now defaulted, with an outstanding principal of more than $150 million. The complaint seek...

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