Mark R. Beebe, a partner at Adams and Reese LLP, along with a trial team and co-counsel, recently secured a complete defense verdict for Region’s Bank in a judge tried matter in Louisiana state court. Woodlands Development LLC, et al, v. Regions Bank, Case #668-408, Div. “J,” 24th Judicial District Court, State of Louisiana (December 7, 2020).
In an attempt to void a $5.2 million commercial loan obligation and rescind the personal guaranties, plaintiffs alleged that Regions had fraudulently induced plaintiffs into signing their fourth forbearance agreement extending the term of the note and personal guaranties. Plaintiffs further alleged that the bank had spoliated evidence preventing them from prosecuting their alleged fraud claim. Regions sought to collect on the loan obligation.
The matter had been pending for 10 years when Regions asked Mark to step-in and try the case. After seven days of trial extending over two weeks, the court returned a verdict in favor of Regions awarding full payment of the indebtedness exceeding $5.2 million, awarded the bank costs and attorneys, in excess of $2.1 million, and denied and dismissed all of plaintiffs’ affirmative claims for fraud and spoliation against Regions.