National Bank v. Equity Investors

Three separate actions consolidated for trial with a fourth added on the appeal were precipitated by the National Bank of Washington’s decision to foreclose its security interest in a 220-unit apartment complex construction project called Crestview West, in Federal Way, Washington. The issues now here on appeal come from the details of financing and constructing the project, and involve (1) a materialman’s claim of lien against the property for unpaid lumber, (2) the land sellers’ claim that the escrow agent breached a fiduciary duty in the closing, (3) the claim of a guarantor that he should…