Hancock Bank of Louisiana v. Advocate Financial, LLC et al

Filing 43

RULING granting 27 Motion for Summary Judgment. Hancock Bank is entitled to summary judgment on its main demand against La Chenaie in the amount of $7,311,066.59, plus additional default interest which shall continue to accrue on the unpaid p rincipal balance at a default rate of 21% per annum until paid in full, plus additional attorneys' fees and costs that Hancock Bank may incur in enforcing the judgment, as well as any costs and fees that may accrue under the Note and Guaran ty from August 1, 2010, going forward. Hancock Bank is also entitled to summary judgment on the counterclaim by La Chenaie. The law is clear that Hancock Bank's security interest in Advocate's collateral is valid and Hancock Bank is a secured creditor. LaChenaie's counterclaim is dismissed with prejudice. Signed by Judge Frank J. Polozola on 1/10/11. (PJH) Modified on 1/11/2011 to edit text (PJH).