Judge John Brown of Gallatin County Montana, handed down a stiff order to US BANK this week.
Calling their behavior 'abusive and 'reprehensible in an 22 page brief, the Judge denied US Bank's motion to reduce the punitive damage award to Plaintiff Mary Mcculley. Mcculley filed the lawsuit in 2009, after she was forced to sell her home for $200K less than the appraised value one week prior to foreclosure. During the litigation, Mcculley claimed US Bank destroyed documents, in addition to the bait and switch she claimed happened at closing.
Although Mcculley applied for a 30-year standard residential loan, she ended up with an 18 month commercial construction loan. Mcculley also accused the lawyers for Defendants of lying to the court and misrepresenting key documents. The jury agreed with her, awarding her $1 million compensatory and $ 5 million in punitive damages after a week long trial in February. US Bank filed motions to reduce the amount of damages, but Montana law states that punitive damages, which are to serve as a deterrent, can be 3% of a company's net worth, or $10 million- which ever is less. Judge Brown explains his decision to uphold the jury's decision:
"This egregious behavior by the Bank constitutes intentional deceit , and supports the conclusion that that the Bank's conduct was reprehensible." Judge brown further cited Seltzer v Morton 2007 MT 62 \stating:
"Abusive conduct toward and individual which causes the type of harm at issue here
merits considerable punishment, regardless of the setting in which it takes place.
However, the fact that [ the Bank] utilized the judicial system as a tool to
accomplish intimidation and oppression makes this behavior uniquely egregious."
Mcculley was pro-se until six months before the trial, when Andy Patten and
Patricia Peterman of PPBG, Billings Montana stepped up to the plate. You can read the brief in it's entirety here:
see Judge Brown's order and denial here:http://stopforeclosurefraud.com/2014/04/14/judge-upholds-5-million-punitive-against-us-bank-for-fraud/
http://stopforeclosurefraud.com/2014/04/14/judge-upholds-5-million-punitive-against-us-bank-for-fraud/ Mcculley v American Land Title Company and US BANK MT 2013 89 ( supreme court decision )
1 comment:
well, of course this is my case, but I can tell you I almost settled... oh I was so close after the jury verdict.
It was late, more than 12 hours we had been there.... and US BANK started again with their nickel and dime routine, and I was just DONE. At one point they said they would fine me $500,000. if I said any 'disparaging' words. I said "disparaging? like what the deer and antelope say."? I mean, truthfully it would have been one happy hour, and the disparaging words come out... and that would be ONE EXPENSIVE happy hour, right?
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