Arkansas Supreme Court Affirms Win by Foland Wickens

On January 24, 2014, Dave White and Abbey Gentle, along with their local counsel John Baker of Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C., of Little Rock, received a favorable decision by the Arkansas Supreme Court in Arloe Designs, Inc. v. Arkansas Capital Corporation.  Abbey and Dave represented Arkansas Capital Corporation in the defense of lender liability claims brought by Arloe Designs.  Prior to trial, they were successful in obtaining summary judgment on claims of breach of contract, violation of the Arkansas Deceptive Trade Practices Act and negligence.  The trial of a single claim of promissory estoppel in October 2012, resulted in a jury verdict for the defense.  Arloe appealed the case to the Arkansas Supreme Court alleging error in granting the summary judgments, limiting the damages that Arloe could submit to the jury and application of the “new business rule” that had previously held that a new business could not claim damages for future lost profits, since to do so would be too speculative.  The Arkansas Supreme Court affirmed the lower court’s decisions on all counts and decided to avoid ruling on the “new business rule” since Arloe had not been able to prove that Arkansas Capital had committed any wrongful acts which could have resulted in damages.

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