Bank & Lender Liability Attorneys in Cleveland
Lender liability refers to various claims brought by borrowers in lawsuits against lenders in connection with loans and loan commitments. The term is rooted in the notion that lenders must treat their borrowers fairly—whether those borrowers are funding multimillion dollar construction projects or funding operational expansions. Our Business Practice Group's lender liability lawyers at Spangenberg Shibley & Liber LLP help borrowers evaluate and prosecute civil claims against lenders that have violated their obligations.
Experience With Lender Liability Claims
Spangenberg Shibley & Liber LLP and the Business Practice Group have a history of working with companies—whether those companies remain going concerns or are in bankruptcy or receivership—in exploring claims against banks and other lenders for wrongful acts taken by the lender that damaged the business.
What Are Common Liability Claims?
Generally, lender liability arises from allegations that a lender has violated the duty of good faith, contractual or implied, and the fair dealing that was owed to the borrower. Lender liability may also arise from allegations that a lender has assumed a degree of control over the borrower, resulting in the creation of a fiduciary duty owed to the borrower, its creditors or its shareholders.
Some common occurrences that can lead to liability for a lender include the lender:
- Wrongfully refusing to honor a loan commitment.
- Wrongfully refusing to renew a loan, improperly foreclosing a deed of trust or a mortgage or a security agreement without giving the required notice or otherwise following proper statutory procedures.
- Interfering, to the borrower’s detriment, with a borrower’s day-to-day management or the borrower’s contractual relations with third parties.
- Breaching a fiduciary duty that may have arisen or that a lender may have assumed with respect to a borrower in carrying out the terms of the parties’ loan contract.
Effective Bank & Lender Claim Partners
Lenders should be accountable to the clients they serve as well as their shareholders. When lenders violate their legal or contractual obligations, litigation is sometimes necessary. If you, your business, or your client has claims against a lender, contact a Cleveland attorney at Spangenberg Shibley & Liber LLP to evaluate those claims. Our contingency-fee based arrangements share the risks of litigation and align our interests in quickly and efficiently obtaining recovery.
History of Excellence
Our firm has been helping individuals since 1946 and has secured billions of dollars on behalf of our clients.
We go the distance for you and your future fight to obtain maximum compensation on your behalf.
Our trial attorneys have tried hundreds of cases and are not afraid to take your case to trial.
We offer one-on-one attention and detailed counsel. To us you are not just another case number.