Bank of the Ozarks v. DKK Development Co.

BARNES, Presiding Judge.

DKK Development Company petitioned the superior court for a declaratory judgment against Oglethorpe Bank Holding Company, Inc. (the “Holding Company”) and Oglethorpe Bank, seeking to have DKK’s $930,000 debt to the bank set off against DKK’s $2 million loan to the Holding Company. After a hearing, the trial court granted the declaratory judgment, finding that DKK was entitled to an equitable set-off of its debt to the bank. In its order, the court “deemed” DKK’s $930,000 note to the bank to be paid in full and ordered that the Holding Company’s $2.25 million promissory…