Heritage Construction Corp. v. State Bank & Trust Co.
316 Ga. App. 25
Ga. Ct. App.2012Background
- State Bank and Trust Company sued Heritage Construction for three defaulted loans.
- Moss signed promissory notes and guaranties for Burnt Bridge and for Heritage.
- First National Bank of Forsyth County originally held the loans before becoming part of Buckhead Community Bank and Forsyth Community Bank.
- The Buckhead Community Bank closed; FDIC appointed receiver and executed a Receiver’s Assignment of Loan Documents to State Bank.
- Heritage argued there was no complete chain of assignments and no privity, challenging standing.
- The court held a valid assignment chain existed and affirmed summary judgment against Heritage.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Standing/assignment chain for filing suit | State Bank had a complete assignment chain from FDIC via Receiver’s Assignment and prior notes | No sufficient chain; missing affidavits from original lenders; admissible evidence lacking | State Bank had valid assignment; judgment affirmed |
Key Cases Cited
- Hosch v. Colonial Pacific Leasing Corp., 313 Ga. App. 873 (Ga. Ct. App. 2012) (assignment/standing evidence framework in Georgia appellate law)
- Kensington Partners v. Beal Bank Nevada, 311 Ga. App. 196-197 (Ga. Ct. App. 2011) (affidavit and documentary evidence can establish assignment from FDIC-related entities)