| Reverse Lender not Liable in National Bank of Commerce Litigation
Court grants summary judgment, attorney says July 16, 2003 By ANNE LINEBERRY |
| Jupiter Mortgage Corporation was granted summary judgment by a Florida court last week, the company said.
According to a press release, the 13th Judicial Circuit in Hillsborough County issued summary judgment, dismissing a lawsuit against Jupiter filed by National Bank of Commerce. Jupiter said the judge also awarded partial attorney fees. Jupiter is a subsidiary of America’s Senior Financial Services, Inc. Chief executive officer Nelson A. Locke was quoted in the statement as saying, “We will not tolerate and shall immediately defend against any meritless litigation.” America’s Senior has prevailed in two other lawsuits recently. In June, the company won a judgment of $1 million against Finantra Capital Inc. Earlier, the company won a default judgment against Texan Ronald Ardt, AIM Securities and AIM Financial Advisors, Inc. for $316,500, according to company statements. General counsel for America’s Senior Gary Barcus commented in the latest statement, “Here they have exhibited fortitude and perseverance by staunchly defending against NBC’s claim – which the courts determined was without merit.” National Bank of Commerce did not return calls seeking comment. |
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Anne Lineberry is MortgageDaily.com‘s editor. She previously worked as an online editor/producer for DallasNews.com and on the Metropolitan desk for the print edition of The Dallas Morning News. Email Anne at [email protected] |
