Mark Fountain Essay

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Mark Fountain v. First Reliance Bank Andrea Y. Steele Susan Carr, JD Leg 100 July 27, 2012 1. Summarize the actions that led to the lawsuit. Brought before the Circuit Court of South Carolina, Mark Fountain filed defamation lawsuit and intentional infliction of emotional distress against Thomas C. Ewart, chief banking officer of First Reliance Bank, and Ernest Pennell defendant. The suit was based on a statement that was made by Ewart to why the bank would not make a loan on a business venture between Fountain and Pennell. In the late 2008, Pennell, with encouragement and assistant from Fountain, sought to refinance or obtain a new loan in order to satisfy a $1.2 million delinquent mortgage held by Carolina First Bank. The purpose of the loan was to also buy out Pennell’s existing corporate partner, and to pay off a delinquent fuel supply charge. Fountain and Pennell were to also enter into an employment agreement whereby Fountain would be the store manager. This was not Fountain’s first experience with a convenience store. Fountain closely supervised and was a member of a failed business venture, a convenience store and fast food restaurant called the BoJo Tim venture. The BoJo Tim venture had given Carolina First a mortgage on some of its property. Ewart whom at the time was a Carolina First Employee and was involved closely with Fountain with this venture. The Bojo Time venture had difficulty repaying the loan and Fountain was sued. This resulted in a judgment against him. This information was never revealed to Pennell. Fountain and Pennell approached First Reliance bank to request funding after two other lending institutions denied the request for financing. At this time, Ewart was the chief banking officer at First Reliance. Without the presence of Fountain, Ewart called Pennell in for a meeting to discuss

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