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A lawyer is in jail for real state fraud and was contracted by the bank and there is proof that a bank employee was covering the attorney and the police investigator can testify that. Bank employee knew the attorney was in deep waters with the FBI and was under investigation when he send us to do the closing of the property as colateral for a business loan. The designated attorney did not pay the other mortgage until 3 months later and the bank officer was blowing me off. I end up paying the mortgage for several months and had to involved the police. The FBI finally took the case the attorney is behind bars. after 4 years the case is now for trial ... is there any liability cap on court for banking responsibility for all this hazard and headaches... and waste of time. It was a very frustrating situation!!!
What options do I have. I am now negotiating with the the bank attorneys.
If you are asking if there is a maximum amount that a court can award you in a situation like this if you were to bring a lawsuit, the answer is "NO". You will be entitled to what are called actual damages -- which are damages granted for the losses that you actually suffered because of this mess and then you can request that the court award you punitive damages -- and those would be additional damages awarded to you as a punishment to the bank for permitting this situation to happen to you and anyone else that it happened to. I will tell you that courts are reluctant to award punitive damages unless you can show that the conduct was particularly egregious and so if you are negotiating with the banks attorneys, they may not even want to consider that you might be able to get the court to award punitive damages. While I cannot tell you what amount of money you should be seeking, my suggestion is that you speak to a local attorney (if you have not done so already) -- an attorney has a better idea of what your case would be worth in court and can give you a better idea of what you should be seeking in these negotiations with the attorneys.
Please let me know if you have further questions.