Wilmington-based WSFS was among the financial firms that failed to convince a judge to seal some records in a civil case pitting former President Donald Trump and family against the Attorney General of New York.
The Daily Beast reported that insurance giant Zurich and WSFS were among the companies seeking to seal bank records that are part of a $250 million lawsuit.
The judge ruled that, except for account numbers and addresses of employees, the public was entitled to view the filings.
According to the Daily Beast, lawyers for WSFS complained to the judge that journalists were attempting to contact a WSFS associate regarding the filings.
According to a court filing, WSFS was listed in the case due to a loan that came from Bryn Mawr Trust, a bank it acquired in 2021. The loan was originally made by Royal Bank, a Philadelphia area institution later acquired by Bryn Mawr Trust.
The WSFS filing claimed the information and communications over a loan modification were highly sensitive and should be under seal.
The filing also cited privacy issues.
“As the case progresses to trial amid an electoral season in which one of the defendants is running for President of the United States, any employee whose name appears in the papers is likely to suffer from similar invasions of privacy. And that is a best-case scenario. There is a legitimate risk that any current or former employee publicly named in the papers will be harassed, threatened, or worse.
The loan is tied to Seven Springs, an estate in Westchester County, NY, owned by the Trump Organization.
In the civil case, Trump is accused of inflating the property’s value and others when seeking loans or in one case getting a tax break over a land donation at Seven Hills. The estate is said to be a retreat for the Trump family and at one time was slated to become a golf course.
On a day of legal maneuvering, Trump’s lawyers sought to dismiss the suit, with lawyers for the Attorney General releasing a transcript of the former president’s deposition earlier this year.
