Glenn E. Davis and Austin Moore of HeplerBroom’s St. Louis office prevailed in an appeal in the United States Court of Appeals for the Eighth Circuit. In a May 9, 2013 decision, the Eighth Circuit Court of Appeals reversed the decision of the U.S. District Court for the Eastern District of Missouri entering dismissal of a $500,000 breach of contract claim by Affordable Communities of Missouri (Affordable) against the Federal National Mortgage Association (Fannie Mae). Affordable alleged that Fannie Mae breached a financing agreement between the parties by subjecting Affordable to loan pre-payment penalties as the result of an involuntary conveyance of the historic Jefferson Arms building in St. Louis, Missouri. Mr. Davis argued the appeal to a three-judge panel on March 12,2013.
Breach of Contract Claim Fails When Plaintiff Can’t Prove Damages
An Illinois appellate court affirmed judgment for a defendant after a plaintiff failed to prove damages tied to an alleged breach of