Maxey v. Texas Commerce Bank of Lubbock

The trial court granted Homer G. Maxey and five other plaintiffs a judgment following a jury trial whereby they recovered substantial damages from Texas Commerce Bank of Lubbock, Texas because of Bank’s failure to exercise good faith in a private foreclosure sale of stock in plaintiffs’ two closely held corporations. The court of civil appeals concluded that the jury’s finding to the special issue inquiring as to the amount of the liabilities of Plaza Building Corporation at the time of the foreclosure sale was against the overwhelming weight of the evidence and reversed and remanded the…