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Judge awards damages to bank for unpaid development loan

A federal judge awarded a bank nearly $7.8 million in damages as part of a failed development in Clay County, Mo. U.S. District Judge Greg Kays granted summary judgment on counterclaims made by Citizens Bank & Trust Co., which had loaned money to a company trying to build a retail site in Smithville. The loan’s beneficiaries had sued the bank claiming their funds had been cut off.


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