Christopher Meredith and Ian Austin Recover $1.4 Million for CCTB Client

Shareholders Christopher Meredith and Ian Austin recently recovered more than $1.4 million, which included all principal and interest under a loan that CCTB client Sumrall Capital, LLC had made in 2010. The United States District Court for the Southern District of Mississippi granted summary judgment for Sumrall Capital on its contract claim and dismissed all of the borrower’s counterclaims and third-party claims for negligence, gross negligence, civil conspiracy, alter ego, and accounting. After the borrower appealed, the United States Court of Appeals for the Fifth Circuit affirmed the District Court’s judgment.