PNC BANK, NATIONAL ASSOCIATION v. GPL OUTLOTS, LP et al, No. 1:2009cv01415 - Document 62 (S.D. Ind. 2011)

Court Description: ENTRY granting 27 Motion for Summary Judgment - Judgment is entered in Plaintiffs favor and against Defendants, GP Outlots, LP and George P. Broadbent, in the amount of $1,119,193.24 through March 5, 2010, plus interest accruing after March 5, 2010, and attorneys fees in the amount of $16,000.00. (**SEE ENTRY**) Signed by Judge Tanya Walton Pratt on 2/2/2011. (JD)

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PNC BANK, NATIONAL ASSOCIATION v. GPL OUTLOTS, LP et al Doc. 62 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF INDIANA INDIANAPOLIS DIVISION ) PNC BANK, NATIONAL ASSOCIATION, ) ) successor to NATIONAL CITY BANK ) ) Case No. 1:09-cv-1415-TWP-TAB Plaintiff, ) ) vs. ) ) GPL OUTLOTS, LP and GEORGE P. ) BROADBENT, Defendants. ENTRY ON PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT This case is the final chapter in the legal battle waged over the fallout from a $50 Million loan agreement. Like its predecessor cases – Fleming Island Shoppes, LP v. The Huntington National Bank, Case No. 1:09-cv-1115-TWP-TAB and Greenwood Place, LP v. The Huntington National Bank, Case No. 1:09-cv-1110-TWP-TAB (the latter is hereinafter referred to as “the Greenwood case”) – this case springs from payments due under a Master Loan Agreement and a related Project Agreement. Plaintiff’s Motion for Summary Judgment is currently before the Court. The key issues in the present case are inextricably tied to those at the center of the Greenwood case. In their Response brief, Defendants concede that “if the Court grants the Banks’ motion for summary judgment in [the Greenwood case], the Court must also grant PNC’s [Motion for Summary Judgment] in this case.” [Dkt. 56 at 2]. Indeed, the Court granted the Lenders’ Motion for Summary Judgment in the Greenwood case. The Court anchored its ruling in the fact that no “writing” complying with the Indiana Lender Liability Act supported Borrower’s claim that it was entitled to an additional $2.4 Million loan. Given the Court’s Dockets.Justia.com decision in the Greenwood case, Plaintiff is entitled to summary judgment in the present case. Accordingly, judgment is entered in Plaintiff’s favor and against Defendants, GP Outlots, LP and George P. Broadbent, in the amount of $1,119,193.24 through March 5, 2010, plus interest accruing after March 5, 2010, and attorneys fees in the amount of $16,000.00. SO ORDERED: 02/02/2011 ________________________ Hon. Tanya Walton Pratt, Judge United States District Court Southern District of Indiana Copies to: Phil L. Isenbarger BINGHAM MCHALE, LLP pisenbarger@binghammchale.com,jibsen@binghammchale.com Richard A. Kempf TAFT STETTINIUS & HOLLISTER LLP rkempf@taftlaw.com,docket@taftlaw.com,kmickel@taftlaw.com Whitney L. Mosby BINGHAM MCHALE LLP wmosby@binghammchale.com,mmcclain@binghammchale.com Peter Jon Prettyman TAFT STETTINIUS & HOLLISTER LLP pprettyman@taftlaw.com,docket@taftlaw.com,pkeener@taftlaw.com Thomas C. Scherer BINGHAM MCHALE LLP tscherer@binghammchale.com,mmcclain@binghammchale.com Steven C. Shockley TAFT STETTINIUS & HOLLISTER LLP sshockley@taftlaw.com,docket@taftlaw.com,kmickel@taftlaw.com 2

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