REGIONS BANK v. THOMAS D. THOMAS, ET AL. - Articles

All Content


Posted by: Tanja Trezise on Mar 4, 2013

Court: TN Court of Appeals

Attorneys 1:

Richard E. Charlton, Memphis, Tennessee, and Kirk L. Clements, Goodlettsville, Tennessee, for the appellants, Thomas D. Thomas, Helen L. Thomas and The Thomas Family Living Trust.

Attorneys 2:

David R. Evans, Chattanooga, Tennessee, and Stephen Leffler, Memphis, Tennessee, for the appellee, Regions Bank.

Judge(s): FARMER

Plaintiff Bank accelerated a loan secured by an aircraft after Borrower failed to maintain insurance on the aircraft as required by the loan documents. Bank filed an action to collect amounts due; took possession of and disposed of the aircraft; and sought a judgment for the deficiency. The trial court entered judgment in favor of Bank. Defendant Loan Guarantors appeal. We affirm in part; reverse in part, finding that Bank did not provide sufficient notice as required by Tennessee Code Annotated § 47-9-611; and remand for further proceedings.