Date: 09-22-1998

Case Style: First National Bank v. Honey Creek Entertainment Corporation, et al.

Case Number: CJ-97-175

Judge: Farrell M. Hatch

Court: District Court of Bryan County

Plaintiff's Attorney: Mark A. Morrison, Durant, Oklahoma.

Defendant's Attorney: Dan Little of Little, Little, Little, Windel & Coppedge, Madill, Oklahoma.

Description: Breach of contract and foreclosure action with a counterclaim for breach of contract. Plaintiff claimed that defendants defaulted on a note in the amount of $2.4 million secured by a mortgage on a 3,000 acre ranch. Defendant Lena Clancy claimed in a courterclaim that plaintiff's officers were negligent in not acting on her allegations that her former business partner was pilfering collateralized property and secretly selling park animals which were part of the Arbuckle Wilderness attraction. Clany was one of five partners of Honey Creek Entertainment Corporation which purchase the Arbuckle Wilderness in 1994 from the Murray County Industrial Authority.

Outcome: Verdict against Plaintiff on its claim and for Clany on her courterclaim in the amount of $1,488,000 ($1,860,000 reduced by 20% - contributory negligence).

Plaintiff's Experts: none

Defendant's Experts: none

Comments: The defense to the bank's petition was based upon misrepresentation and fraud in the ?. The counter petition was based upon negligence.