Bill Sauerwein recovers $1,403,265.33 for his client in a case filed in Western District of the Federal District of Missouri concerning the sales proceeds from several tracts of Boone County commercial real estate. The action by filed by an estate sought to declare void the loan and deed of trust given to Sauerwein’s clients, successor to a failed bank and purchaser of the bank’s assets, and have the sales proceeds distributed to the estate. The case ended following a favorable Eighth Circuit appeal. The Eighth Circuit’s opinion extended the powers of the FDIC under 12 U.S.C. §1821 (j) of the Financial Institutions Reform, Recovery and Enforcement Act, affirmed the validity of title to the assets, and interpreted Missouri partnership law in ruling in favor of Sauerwein’s client.
Hein Schneider & Bond P.C.
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