2010-1 SFG VENTURE LLC et al. v. LEE BANK & TRUST COMPANY., 332 Ga. App. 894

Summary

HOLDINGS: [1]-In a dispute arising from a commercial real estate loan, the trial court order denying the lead lender's motion for summary judgment was vacated as to the bank's counterclaims for breach of contract and rescission because the limitation of liability clause was sufficiently prominent and the bank did not demonstrate that declaring the clause unenforceable clearly served the public interest; [2]-The court further held as to the recission claim that it did not matter how the repurchase clause was characterized as the failure to timely repurchase the participation interest upon proof of a material default constituted an independent breach of the participation agreement that, if proven, would entitle the bank to pursue money damages for the alleged failure to repurchase.