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M & I BANK v. SUNRISE FARMS DEVELOPMENT, LLC

No. 13-1479.

737 F.3d 1198 (2013)

M & I MARSHALL & ILSLEY BANK, Plaintiff-Appellant v. SUNRISE FARMS DEVELOPMENT, LLC, formerly known as Rausch Coleman Cray, LLC; Ernest R. Coleman, Sr.; Daniel E. Whitney; Byars & 150 Enterprises, LLC; The Maddock Group, LLC; Family Land Investors, LLC, Defendants-Appellees.

United States Court of Appeals, Eighth Circuit.

Filed: December 13, 2013.

Attorney(s) appearing for the Case

Andrew Muller , argued, Kansas City, MO ( Robin K. Carlson , on the brief), for Appellant.

John D. Alford , argued, Fort Smith, AR, for Appellee.

Before BENTON, BEAM, and SHEPHERD, Circuit Judges.

BENTON, Circuit Judge.

M & I Marshall & Ilsley Bank appeals the district court's calculation of a deficiency judgment against Sunrise Farms Development, LLC. Having jurisdiction under 28 U.S.C. § 1291, this court reverses and remands.

I.

Beginning in 2005, the Bank made loans to Sunrise Farms and its guarantors to develop property. In 2009, Sunrise Farms defaulted, and the Bank sued. The Bank foreclosed, purchasing the property at a...

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