Thurman Senn of M&P obtains $1.412 million jury verdict on behalf of Citizens National Bank of Paintsville, in the U.S. District Court for the Eastern District of Kentucky, in loan participation action.
Representing Citizens National Bank of Paintsville, Morgan & Pottinger, today, obtained a $1.412 million dollar jury verdict in U.S. District Court in Pikeville. The case involved a West Virginia Bank that sold participations to Citizens, subsequently wired payoffs to Citizens, and reclaimed the participation interests Citizens had purchased. The jury award compensated Citizens for the income it lost when the participation interests were recalled by the seller. The trial was on damages as the Court had previously awarded summary judgment to Citizens on the lead bank’s breach of the participation contracts. Thurman Senn was the firm’s lead counsel on the case.