Allain v. First Guaranty Bank

EDWARDS, Judge.

Plaintiffs, Reid and Vicki Allain, filed this suit seeking damages for the wrongful seizure of their property. This action is preceded by almost seventeen years of protracted litigation following the seizure of the Allains’ property via an executory proceeding initiated by First Guaranty Bank in 1974. Finding that this suit was untimely filed, we reverse the trial court’s ruling on the issue of prescription.

FACTS AND PROCEDURAL HISTORY

On July 31,1974, First Guaranty brought an executory proceeding, bearing docket number 44,852, against the Allains, foreclosing on a collateral…