DELTA DEVELOPMENT CORPORATION, ZOO CONCESSION AND GIFT, INC., and SMITH & ROGERS COMPANY v. F. FANI GULF INTERNATIONAL, GULF INTERNATIONAL, FAROKH FANI, and F. FANI/GULF INTERNATIONAL v. FARIBORZ FERDOWSI; LELA FERDOWSI; FARZIN FERDOWSI; ZIBA FERDOWSI; FARSHEED FERDOWSI; TALIEH FERDOWSI; AZAR FERDOWSI; CYRUS AZHDARI; HOMAYOUN AMINMADANI; and ZOHRE AMINMADANI (Tenn. Ct. App. April 4, 2012)
Defendants made a series of loans to Plaintiffs and a dispute arose as to the interest and principal owed. A judgment was entered in favor of Defendants. However, Defendants appealed the award, claiming that the trial court erred in admitting evidence, which allegedly reduced the judgment amount, and in refusing to hold all shareholders of the Plaintiff companies liable for the judgment. Plaintiffs also claim, on appeal, that the Special Master and the trial court set an incorrect “starting point” for determining the judgment owed. We affirm the Special Master and the trial court in all respects.
Opinion available at:
https://www.tba.org/sites/default/files/deltadevelopment_040412.pdf
