Article Date: 11/15/10

LENDER HAD NO DUTY TO INFORM CONTRACTORS OF FINAL DISBURSEMENT OF LOAN PROCEEDS

Court of Appeals of Indiana

Ritzert Co., Inc., et al. v. United Fidelity Bank, FSB

No. 82A04-1001-PL-35
October 15, 2010

Overview

An Indiana court has ruled that a construction lender had no obligation to notify trade contractors that the loan proceeds had been fully disbursed to the project owner. The lender, which held a security interest in the project, was ... Log in to view the full text.

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