CENTRAL BANK v. JEFF WILKES, ET AL. (TULL) - Articles

All Content

CENTRAL BANK v. JEFF WILKES, ET AL. (TULL)

Posted by: Chandra Williams on Jul 21, 2016

Court: TN Court of Appeals

Attorneys 1:

Thomas F. Bloom, Nashville, Tennessee, for the appellant, Fred Tull.

Attorneys 2:

Terry Abernathy, Selmer, Tennessee, for the appellee, Central Bank.

Judge(s): ARMSTRONG

This case arises from a delinquent loan. Appellant is one of the principals of a development company that obtained a loan in the amount of $250,000 from Appellee bank. Appellant was allegedly unaware of this loan. Subsequent to the $250,000 loan, Appellee bank gave the company another loan in the amount of $300,000, which all of the company’s principals, including Appellant, personally guaranteed. The guaranty agreement provided that the principals would personally guarantee all of the company’s debts which “may now or at any time hereafter” be owed to the Appellee bank. One of the company’s other principals paid the $300,000 loan in full. A year later, Appellee bank brought suit against all three principals for the $250,000 loan. The trial court granted summary judgment in favor of the Appellee bank. Appellant appeals. Affirmed and remanded.

Attachments: