Joe P. Asher
An appeal has been filed in the case of Monte Seth Carmical who filed a lawsuit against Home Federal Bank Corporation, Morgandi, LLC and Antony Saragas.
Carmical, the plaintiff, appealed the court’s decision awarding him $620,000.
Attorney Darrell L. Saunders filed the appeal on Carmical’s behalf on Jan. 29.
Previous reports stated Carmical originally filed a complaint against Home Federal Bank, Morgandi and Antony Saragas on Jan. 21, 2010 alleging breach of good faith and fair dealing, breach of fiduciary duty and interference with prospective contractual and business relations and opportunity.
Carmical attempted to take out a loan with Home Federal Bank in order to purschase Sunshine Storage, a storage unit business located on U.S. 421 in Harlan. Saragas was an employee of Home Federal Bank at the time and was in charge of Carmical’s loan application.
During the trial, a directed verdict from Judge James Bowling cleared Home Federal Bank of any wrongdoing and released the bank from any liability.
An Enterprise report of the trial shows with Home Federal Bank out of the picture, Saragas’s attorney Susan Lawson turned her attention to Carmical’s honesty, arguing there were significant differences in assets shown on Carmical’s tax returns and what was reported in the loan application.
Lawson argued this showed “a pattern of not being truthful.” Carmical’s understanding of business procedures was also called into question.
According to previous reports, the trial continued with Darrell Saunders, Carmical’s attorney, arguing that Saragas treated his client unfairly.
“What really happened here is simple,” said Saunders during the trial. “Saragas winds up with the property.”
Previous reports state that according to Saunders, inconsistencies in the loan file are proof of unfair treatment of his client.
“If Seth (Carmical) had withdrawn the loan as they would have you believe, why would he be in Middlesboro talking to Saragas’s higher ups about it?” Saunders asked the jury.
According to Saunders, Morgandi, the company formed by Saragas with partner Mike Anderson, was created solely to purchase the Sunshine Storage property.
Saunders also claimed Saragas “stonewalled” Carmical’s loan in order to give Morgandi the time to purchase the property. After about two hours of deliberation, the jury ended the three-day trial with a verdict awarding Carmical $620,000. When contacted Carmical had no comment on the appeal.
Reach Joe P. Asher at 606-573-4510 or firstname.lastname@example.org