COMMUNITY FIRST BANK AND TRUST V. THE VELLIGAN FAMILY TRUST ET AL. - Articles

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Posted by: Tanja Trezise on May 1, 2015

Court: TN Court of Appeals

Attorneys 1:

Carol A. Molloy and Jonathan Lynn Miley, Lynnville, Tennessee, for the appellants, The Velligan Family Trust, Mark Velligan and Mary Margaret Velligan.

Attorneys 2:

David M. Anthony, Anne C. Martin and Mandy Strickland Floyd, Nashville, Tennessee, for the appellee, Community First Bank & Trust.

Judge(s): CLEMENT

The matters in dispute pertain to four promissory notes. After the Bank filed suit to collect on the notes, Defendants filed counterclaims against the Bank and cross-claims against one of its agents. Following discovery, the Bank and its agent moved for summary judgment on all claims; Defendants opposed summary judgment on several grounds. Finding that the unpaid balances on the notes and the resulting deficiencies were undisputed and that Defendants released all claims against the Bank and its agent when they executed forbearance agreements, the trial court granted summary judgment in favor of the Bank in the amount of $204,024.25, and summarily dismissed all claims asserted by Defendants. We affirm.