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The case involved a debt collection action brought on behalf of debt purchaser Palisades Collection, LLC against Steven Graubard. Palisades’ legal representation claimed that Graubard owed $30,500 on a credit card account he opened in 1999 with Chevy Chase Bank. After a series of bank mergers, the account ended up with JP Morgan, who sold it to Palisades.
At the trial, the collection attorneys attempted to prove the chain of title of Graubard’s account. According to the court records, the plaintiffs contended that Chevy Chase’s credit card operations had been purchased by Bank One, Bank One was subsequently purchased by JP Morgan, who then sold the account to Palisades. To prove that the mergers and acquisitions had taken place, lawyers for Palisades admitted into evidence an article from the New York Times and an entry from the online encyclopedia site Wikipedia.
Read More About Debt Collector Loses Collection Case Appeal...