Breaking News: Local developers suing GreenBank/American Fidelity

By Rick Laney
of The Daily Times Staff

A local construction company filed suit in Blount County Chancery Court Wednesday against American Fidelity Bank and its parent company, GreenBank, for alleged violation of the Tennessee Consumer Protection Act, negligent misrepresentation, intentional misrepresentation and breach of contract.

The suit stems from loans made by American Fidelity to Potter & Sunderland General Contractors Inc., a Louisville-based construction company that developed the Ashwood Park Villas near the intersection of William Blount Drive and Dotson Memorial Road.

The complaint is based on what the developers say were misleading terms and conditions of their loans with American Fidelity and GreenBank and an attempt by American Fidelity to keep the developers from obtaining construction loans from Citizens Bank of Blount County.

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