Opinion ID: 2758262
Heading Depth: 4
Heading Rank: 1

Heading: CGC Holding

Text: 4 We refer to Broad and Cassel, Gaché, and Romano collectively as “Broad.” -13- CGC Holding is a Colorado limited liability company, which developed an eighteen-hole golf course and related community facilities during 2009. After losing one of its primary investors, CGC Holding sought funding from FCMF and FCH. CGC Holding signed a commitment letter with FCMF pursuant to which FCMF agreed to lend $34 million to CGC Holding subject to certain terms. To comply with the terms, CGC Holding paid FCH at least $182,500 in inspection fees, administrative fees, and legal fees. CGC Holding did not receive the loan. The lenders maintain that CGC Holding’s loan commitment was contingent upon its collateral property commanding a valuation of $43 million, of which it fell short.