Northwestern National Bank of Sioux City v. Metro Center, Inc.

LARSON, Justice.

An extensive Sioux City urban redevelopment project, commenced with great enthusiasm and optimism, sputtered and eventually died. The site, intended for construction of a large shopping center, was dubbed the “Brandéis hole” when construction stopped at the excavation stage. The corporation charged with the development of the project, Metro Center, Inc., had borrowed money from the Northwestern Na tional Bank of Sioux City. Audino Construction Company, and others, supplied labor and material for the project and claimed mechanics’ liens under chapter 572, The Code 1979. This…