Should the Agricredit position prevail, industry-wide uncertainty would be created and the contractual freedom of banks and their customers would be restricted. The attorney for the bank has filed a Supplemental Brief with the court challenging the new allegations and giving the court additional information about the routine nature of the handling of the case. The order granting the application is therefore vacated and the appeal was accordingly dismissed. The Court's decision to vacate the appeal is good news for not just for the Bank of Dooly, but for all lenders involved in agriculture lending. Cases like these are always on the agenda for GBA's annual Bank Counsel Conference sponsored by the Bank Counsel Section .
Membership is the Section is available to attorneys representing banks as well as in house counsel.
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