U.M.B. Bank, et al. Missouri Cases

Appellants Park Ridge Associates, et al., appealed the dismissal of their claims against U.M.B. Bank, et al., stemming from the foreclosure and non-judicial sale of an apartment development. Appellants alleged breach of fiduciary duty, conspiracy to breach fiduciary duty, breach of the covenant of good faith and fair dealing, and unjust enrichment, contending the foreclosure price was artificially low due to Respondents' misconduct. The appellate court affirmed the trial court's dismissal, concluding that Appellants' claims were barred by the Credit Agreement Statute or failed to state a cause of action under Missouri law and the express terms of the parties' contract.