Rick Foley, CEO of Delta Community Credit Union, offered moreassurance that the financial institution has a strong legal basisto appeal in the case of a $75 million judgment award involving analleged breach of contract.

“We're obviously upset that any amount was granted to theplaintiff, but we are particularly upset by an award of this size.We think it's unwarranted and contrary to the facts or applicablelaw. We will file an appeal and believe we have a strong legalbasis for doing so,” Foley wrote in a Feb. 1 internal letter toDelta Community employees obtained by Credit UnionTimes.

According to the attorneys, their client, David R. Pearson,alleged he sustained damages to several of his companies due to thefailure of the $4 billion Delta Community in Atlanta to perform under a loan commitment,alleged attempts to prevent Pearson from drawing on a specialpurpose credit facility and the alleged breach of thecontracts.

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