An Atlanta lender who sued Columbus-based Synovus Bank for breach of contract amid allegations that the bank almost put it out of business by pulling its line of credit has been ordered to pay Synovus more than $16 million, including $1.6 million in attorney fees.
In a suit filed last year, DJ Mortgage LLC and its co-owner, John Smithgall, accused Synovus of breach of contract and asked the court to declare its loan agreement unenforceable, arguing that the bank arbitrarily cut off its cash flow over “non-monetary immaterial defaults,” damaging its business and subjecting it to at least two lawsuits by disgruntled clients and making it a potential target for more litigation.
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