The default was a treacherously orchestrated fraud carried out by Paragon Commercial Bank at the secret behest of Morgan Stanley. Mr. Young's banker at Paragon, Martin Borden was provided copies of the Divorce Settlement Agreement ("DSA") during negotiations, and throughout such discussions, Mr. Borden provided ongoing assurances that Paragon would deliver on financing the key provisions of the DSA
It is noteworthy to point out that the estrangement Mr. Young had with his three adult sons had ended with the execution of the DSA in January 2008, and the four of them were well on their way to reestablishing the close bond they had prior to MorganStanleyGate. However, by Paragon's defaulting on their commitment to make good on their financing, Mr. Young could not possibly make good on the financial provisions of the DSA. This instance of treachery is why such an act was believed to be more heinous than murder in Dante's "Inferno", the third in his classic trilogy, "Divine Comedy".
Notwithstanding, once this agreement was executed, Paragon reneged with malicious intentions -- albeit right out of the Morgan Stanley / Kirkland & Ellis game plan book., and eventually became the foundation upon which the eventual multi-faceted foreclosure fraud was based.
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