How Three Simple Lessons Can Save a Bank a Half-Million Bucks – Or, In Re Southwestern Glass Co., Inc.: The Effect of Garnishment On An Automatic Line of Credit

by J. Cliff  McKinney II |

“In June 2003, the Eighth Circuit Court of Appeals handed down its ruling in the case of In re Southwestern Glass Co., Inc. This case began with a $517,000 judgment against one of Bank of Arkansas’ customers and ended in a $583,628.52 ruling against the bank. This case provides a powerful warning to banks and important lessons on how to better respond to garnishments and structure automatic draw lines of credit.”

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