- Jul 18, 2005
Sounds like Jerry Lundegaard giving the auto finance people the runaround. I hope the end is the same for Snyder, but I doubt it.On Nov. 29, 2018, Kevin A. McGinnis, an outside lawyer for Bank of America, emailed Stephen Choi, the team's then-chief financial officer, asking if he was "all set on the remaining closing document required ... such as ... authorizing resolutions." Choi replied that "our legal dept is in the process of finalizing drafts."
On Dec. 13, 2018, Eric Schaffer, then the senior vice president for Washington's football operations and general counsel, wrote to the bank saying, "we have examined and relied upon the following ... resolutions of the board of directors of the Borrower authorizing the transactions." Neither Choi nor Schaffer responded to questions from ESPN.
On that same date, McGinnis, the bank lawyer, again asked the team for the board resolution authorizing the loan because it needed to be attached to the bank officers' closing certificate.
However, no board resolution was provided to Bank of America before the credit line was closed, according to the documents and sources. Nearly a month later, on Jan. 8, 2019, McGinnis again emailed Choi to request an original copy of the resolution. The bank received none, the documents show.