Terminella Determined to Depose MNB’s Rogers

In our June 30 Whispers, we told you about Metropolitan National Bank of Little Rock seeking sanctions against Tom Terminella for blasting the bank’s public statement after it signed an agreement May 23 with the Office of the Comptroller of the Currency.

Terminella is suing the bank for $25 million in damages claiming breach of contract after MNB foreclosed on two loans totaling around $14 million on May 30, 2007.

The case is set for trial Oct. 20, and the back-and-forth of the lawyers’ motions is a gift that keeps on giving.

MNB, upset with some comments by Terminella and his attorneys Jim Penick and Robert Ginnaven in this publication, sought a gag order against them in January, which Washington County Circuit Court Judge Kim Smith refused to grant.

A standard protective order was entered into in April covering confidential banking information and nothing more, according to a motion filed by Terminella’s side July 9 in response to the request for sanctions.

In the motion, Terminella’s side cites Smith’s statement at the January hearing that: “Right now this court is not going to tell either party what it can or can’t disseminate to the press.”

Terminella is also still seeking to depose MNB majority owner Doyle Rogers and board members Pete and Barbara Hoover.

In a motion filed July 17, Terminella’s lawyers point out they have attempted to schedule Rogers for a deposition five times since February, only to have MNB attempt to quash the subpoenas citing Rogers’ lack of knowledge about Terminella’s loan and his ill health.

In the July 17 motion, Terminella’s side alleges they were told by MNB’s attorneys June 2 that Rogers, 89, who lives in Benton, only traveled to Little Rock for doctor visits and had only been once since March.

In a sworn affidavit filed Feb. 19, Rogers said he had curtailed his travel to Little Rock.

In response, Terminella’s side notes Rogers attended three social functions in Little Rock between March 20 and April 4 documented by Soirée magazine, which is owned by the Arkansas Business Publishing Group.

The sanctions motion will be ruled on Aug. 6. The resolution of Rogers’ deposition is still undetermined.