Interstate Agri Services, Inc. v. Bank Midwest, N.A.

FOREST W. HANNA, Judge.

Interstate Agri Services and certain individual investors brought suit against Bank Midwest to declare a contingent interest provision in the bank’s promissory notes unenforceable, and for the return of their money. The bank responded with a counterclaim for unjust enrichment. The plaintiffs filed a motion for partial summary judgment on liability and for actual damages. The trial court sustained the plaintiffs’ motion and entered judgment against the bank for damages in an amount equal to the contingent interest that each plaintiff had paid. The case proceeded to trial…