Compass Bank v. Haji Gul Khan
N/AOUTCOME: Judgment in favor of Compass Bank
Compass Bank made three loans to various parties that were guaranteed by defendant. The total debt was in excess of $2.465 million. Approximately $1.6 million was still due and owing and outstanding ... as a deficiency after a foreclosure sale. Khan filed counterclaims for negligence, breach of fiduciary duty, fraud and made allegations that the bank improperly conducted the foreclosure sale. Khan also claimed that Compass Bank’s loan officer had made various representations that turned out to be untrue, and Khan also alleged that the bank had an improper relationship with other borrowers and/or people involved in the lending transactions. Khan also made claims that the bank failed to disclose certain facts that had Khan known, Kahn would not have entered into the loan transaction. After written discovery, depositions and other motions, the court ultimately granted Compass Bank’s second motion for summary judgment and granted a judgment in favor of Compass Bank for the full amount of the deficiency and a take-nothing judgment on all of Khan’s counterclaims against Compass Bank.
