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Perot sued a bank and a developer for $200 million.

September 04, 1986

Billionaire businessman H. Ross Perot filed the lawsuit against Manufacturers Hanover Trust and William T. Criswell following the bankruptcy of a hotel in which he was a limited partner. Perot claims that Manufacturers Hanover and Criswell misled him into investing in the hotel and concealed financial information from him. Perot filed the suit in state district court in Dallas. Perot invested $8.3 million to become a limited partner in the Hyatt Regency West in Houston shortly after it opened in 1983, the suit said. Last year, when the project was refinanced, Perot agreed to personally guarantee a $30-million mortgage from Bank of America to help keep the hotel out of financial trouble, attorneys for Perot and Criswell said. The 400-room hotel, which filed for bankruptcy protection on Tuesday, is owned by a Perot-Criswell partnership.

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