Appeals Court Rules Against Brock, Cowden On Lawsuit With Capital Mark Bank

Monday, June 30, 2014

The Tennessee Court of Appeals has ruled in favor of Capital Bank in a lawsuit involving Oscar Brock and Frank Cowden III.

Mr. Brock is a current candidate for the District 6 seat on the County School Board. Joe Galloway is seeking re-election. 

Capital Bank had filed a complaint seeking a deficiency judgment against Mr. Brock and Mr.  Cowden, after they defaulted on a loan and following the sale at foreclosure of the property securing the debt.

The Appeals Court said, "After settlement discussions were unsuccessful, Capital Bank moved for summary judgment. It asserted that no genuine issue of material fact exists and that it is entitled to a judgment as a matter of law. Defendants contested the motion but only as to the amount of the deficiency and the issue of whether Capital Bank is entitled to an award of attorney’s fees. As a defense to the deficiency claim, Defendants stated that the property was sold at foreclosure for an amount “materially less” than its fair market value and that Capital Bank’s knowledge of the alleged less-than-market value sales price amounted to fraud, collusion or misconduct.

"The trial court granted Capital Bank’s motion. It was awarded a judgment of $168,798.98 which amount includes 70,628.85 in attorney’s fees. Defendants appeal.  We affirm."


Scam Phone Calls Continue; IRS Identifies Five Easy Ways To Spot Suspicious Calls

The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS.   These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They ... (click for more)

Tennessee Electric Cooperative Association Names Alex Perkerson Government Affairs Specialist

The Tennessee Electric Cooperative Association, a trade group representing the interests of electric cooperative members across the state, announced that Alex Perkerson joins the association as government affairs specialist. In this role, Ms. Perkerson will assist with the association’s legislative and grassroots efforts. “Tennessee’s electric cooperatives work to inform ... (click for more)

16-Year-Old Shot Near Emma Wheeler Homes

A 16-year-old was shot near Emma Wheeler Homes on Sunday night. At approximately 7:40 p.m., Chattanooga Police received a call of a person shot from a local hospital. Officers spoke to the victim, a 16-year-old black male, who was transported to a local hospital in a personal vehicle. The victim’s injury is minor and non-life threatening. Investigators spoke to the victim ... (click for more)

Helen Burns Sharp Asks Recovery Of Legal Fees In Successful Black Creek TIF Lawsuit

Helen Burns Sharp, citizen activist who sued to try to stop a $9 million Black Creek Tax Increment Financing (TIF) and won, is seeking to have her legal expenses paid by the city and the developers. Ms. Sharp said in a court filing that her legal bills to attorney John Konvalinka are $74,427 thus far. Chancellor Frank Brown ruled in favor of Ms. Sharp, saying the Sunshine ... (click for more)

Decimating The Chattanooga Public Library

Corinne Hill claims that the library is just undergoing a normal weeding process for eliminating books.  She has bragged that she's responsible for the elimination of over 100,000 books - with more to go. "Normal" weeding is not rampant throwing away.  Yes, books go to the Friends for their sale - where they get $2 for a $75 book and thousands wind up being recycled ... (click for more)

The Many Lessons I Learned From Helen McDonald Exum

Helen McDonald Exum was my friend and mentor. As I think of her passing I can only imagine the celebration that is happening in heaven as the news of her arrival is being told. I am sure that there is a party that not only has she organized but that there is not a detail that has been left to chance. I am sure that it is the grandest of events, for you see, she has been planing ... (click for more)