Bank appeals lawsuit dismissal
Published 9:39 am Friday, March 23, 2012
LAKE MILLS — A Lake Mills bank has appealed to the Iowa Supreme Court the dismissal of its lawsuit against a customer for nonpayment of a $150,000 loan.
Attorney David Siegrist filed the appeal Wednesday on behalf of Manufacturers Bank & Trust.
A Winnebago County judge dismissed the bank’s lawsuit against 87-year-old Clemence Weber, of Austin last month. The judge said the bank’s former president breached a fiduciary relationship with the man and was aware of his growing dementia when the loan was made in 2007.
The lawsuit sought repayment of the loan, at 16 percent interest, plus collection and attorney fees.