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Banking Litigation

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Overview

Stoll Keenon Ogden’s Banking Litigation practice offers vigorous representation concerning disputes between and among lenders and borrowers. Our attorneys counsel clients at every stage of a lending related dispute, from settlement negotiations through the appellate process. We work as a team to resolve business credit disputes in as efficiently as possible and litigate them when a settlement isn’t realistic.  We also advise our clients on documenting lending transactions to minimize the risk of litigation.

Our scope of litigation services includes:

  • Commercial foreclosures
  • Lender liability claims such as breach of contract, breach of fiduciary duty, fraud, negligence, bad faith, tortious interference and duress
  • Lien priority and collateral disputes
  • Loan participation and inter-creditor disputes
  • Regulatory compliance, including defense of statutory claims
Benchmark Litigation Kentucky State Firm of the Year 2018

Work Highlights

Summary Judgment and Attorneys’ Fees – Breach of Fiduciary Duty Defense

Richard Kerns, et al. v. First Bankers Trust Co., et al., U.S. District Court for the Western District of Kentucky, Case No. 3:15CV-00212. Lead counsel in successful defense of trust company facing allegations of breach of fiduciary duty and grounds for removal of trustee in an action brought by remainder beneficiaries.  After two years of discovery and oral argument on dispositive motions, summary judgment was granted to Mark’s client.  Prior to the parties briefing whether the trustee should be awarded attorneys’ fees, the plaintiffs agreed to pay Mark’s client 90% of the attorneys’ fees incurred through the litigation.

Successful Estate Recovery for Non-Profit Organization

Lead counsel in lawsuit involving dispute over gift to non-profit organization from a decedent’s estate. SKO successfully negotiated a settlement for its non-profit client that resulted in the client receiving nearly the entire gifted amount.

Breach of Contract

Lead counsel to Ken Towery’s Auto Care of Kentucky, Inc. in a complex litigation matter involving Michelin’s retail expansion program. The case was resolved favorably before trial. Michelin Americas Small Tires, a division of Michelin North America Inc. v. Ken Towery’s Auto Care of Kentucky, Inc., United States District Court for the District of South Carolina, Greenville Division, C.A. No. 6:13-cv-02848-HMH.

Related Practices: Banking Litigation

Construction Litigation

Lead counsel to Alliant Technologies in multi-jurisdictional litigation arising from the expansion of the McCarran International Airport in Las Vegas, Nevada and in litigation involving recent construction litigation at Philadelphia International Airport.

Related Practices: Banking Litigation

Utility Base Rate Cases

Lindsey has served as both lead regulatory counsel and co-counsel in numerous base rate cases before the Kentucky Public Service Commission and the Tennessee Public Utility Commission since 2004.  Some of those cases have been fully resolved by agreement of the parties and some have been fully litigated to conclusion.  The utilities involved in those cases are the state’s largest electric, gas, and water utilities.

Defense of RICO Claims against Developer

Successfully defended two sub developers and their principals against claims they violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by allegedly misappropriating the proceeds from industrial revenue bonds issued to fund the construction of a large, urban, mixed-use development. The U.S. District Court for the Western District of Kentucky dismissed the complaint on the basis that it failed to adequately plead RICO violations or conspiracy. The plaintiff did not appeal the decision.

City of Bowling Green v. Mills Family Realty, Inc., Civil Action No. 1:17-CV-00158-JHM, 2017 U.S. Dist. LEXIS 208853 (W.D. Ky. Dec. 20, 2017).

Related Practices: Banking Litigation

Banking Litigation

5th 3rd Bank v. McIntyre, 2013 U.S. Dist. LEXIS 94418 (E.D. Ky. July 8, 2013). Defeated motion to dismiss based on diversity of citizenship.

Related Practices: Banking Litigation

Banking Litigation

Successfully secured settlement on behalf of investor recovering $2 million from institutional investment firm arising from overcharges of investment administration fees.

Related Practices: Banking Litigation

Complex Litigation of Superfund Cleanup Site

Louisville Industrial Park, LLC v. ExxonMobil Oil Corporation, et al., Case No. 3:14-CV-278-CRS (W.D. Ky., 2017). See also, FCBKy Holding, LLC v. Louisville Industrial Park, LLC, et al., Case No. 13-CI-402829 (Jefferson Circuit Court, 2013).

Originally presented with a foreclosure case by our bank client, the matter became further complicated when the location in question was declared a Superfund Site by the U.S. EPA. SKO negotiated a resolution that involved an acquisition under Kentucky’s brownfields regulations, protecting the bank against liability for historic contamination. The firm’s attorneys also successfully acquired the property for a subsidiary while dealing with substantial tax liens and negotiated a plan for cleanup, which proved satisfactory to state and federal regulators. Subsequently, SKO also successfully resolved lender liability claims that threatened to delay the transfer of the property and the commencement of cleanup activities. The case was settled favorably in March 2018.

Lender Liability Defense

Represented a Kentucky community bank in defense of a borrower’s claims related to his investment with another borrower. The bank won summary judgment on all claims.

Related Practices: Banking, Banking Litigation

Lender Liability Defense/Chapter 11 Bankruptcy

Obtained summary judgment from an Indiana federal court dismissing a lender liability action against a major regional bank and obtained dismissal of the borrower’s Chapter 11.

Related Practices: Banking, Banking Litigation

Commercial Foreclosure

Represented major regional banks and community banks in foreclosures of office buildings, shopping centers, golf courses, subdivision property, multi-family residential properties, warehouses, manufacturing facilities and others. SKO served as local counsel for the Special Servicer for the Trust in two CMBS loan foreclosure actions one of which involved indebtedness of $31 million dollars secured by a shopping center which was successfully completed in August 2017 and the other involving indebtedness of $17 million dollars secured by a student housing complex and which was successfully completed in May 2018.

Civil Money Penalty Defense

Representation of officers and directors of financial institutions in civil money penalty proceedings before the Office of the Comptroller of the Currency.

Contaminated Collateral

Successfully represented local lender regarding a defaulted loan secured by collateral that was contaminated and subsequently un-archived as a Superfund site.

Industry Involvement

Kentucky Bankers Association

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