News Releases

Colorado Court of Appeals Affirms $9 Million Verdict on Behalf of Kirkpatrick Bank

04.30.13

Lindquist & Vennum has successfully defended on appeal a $9 million judgment, entered in favor of firm client Kirkpatrick Bank. The appeal was filed by a developer after Lindquist & Vennum secured judgment on behalf of Kirkpatrick Bank in October 2010.

In Star Ranch v. Kirkpatrick Bank, et al., Kirkpatrick Bank defended allegations of lost profits by a developer in excess of $6 million stemming from a failed residential real estate development. Following multiple lawsuits filed by the developer in different venues, Kirkpatrick Bank successfully consolidated the actions and brought counterclaims against the developer for breach of contract and judicial foreclosure. During the six-day trial in El Paso County District Court, Colorado, Lindquist & Vennum attorneys John Chanin and Patrick Compton defeated numerous lender liability and bad faith claims and obtained a $9 million judgment against the developer. The appeal was fraught with delays caused by the developer. After the Court of Appeals finally had the opportunity to consider the matter, it acted with unprecedented speed in upholding the judgment, issuing a written opinion within one week of oral argument. 

“The Court of Appeals’ decision is a great victory for the banking industry,” said Patrick Compton, lead appellate counsel for Lindquist & Vennum. “The fact that the Court of Appeals affirmed so quickly after oral argument demonstrates that the ‘blame the bank’ strategy is losing more and more favor in our legal system.”

In addition to Compton, Lindquist & Vennum partner John Chanin served as lead trial counsel.

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