David Stevan and Karen Ann Brandriet - Page 3




                                        - 3 -                                         
          Stevan Brandriet.                                                           
                                  FINDINGS OF FACT                                    
               Some of the facts have been stipulated and are so found.               
          The stipulated facts and the accompanying exhibits are                      
          incorporated into our findings by this reference.  At the time              
          the petition in this case was filed, petitioners resided in                 
          Watertown, South Dakota.                                                    
               On September 18, 1989, petitioners filed suit against                  
          Norwest Bank S.D., N.A. (Norwest) for rejection of petitioners'             
          application for a Veterans' Administration home mortgage loan.              
          The original complaint alleged fraudulent misrepresentation,                
          negligent misrepresentation, and negligent processing of the                
          application.  The pleadings were later amended to include claims            
          of intentional infliction of emotional distress and punitive                
          damages.  After an 8-day trial, the jury returned a verdict                 
          holding Norwest liable for negligent processing, fraudulent                 
          misrepresentation, and negligent misrepresentation; however,                
          Norwest was found not liable for intentional infliction of                  
          emotional distress.  Petitioners were awarded $41,453.22 in                 
          compensatory damages and $200,000 in punitive damages.  The                 
          verdict was affirmed on appeal.  See Brandriet v. Norwest Bank              
          S.D., N.A., 499 N.W.2d 613 (S.D. 1993).                                     
               Petitioners received the punitive damages in 1993; however,            
          they did not report any of this amount on their 1993 Federal                






Page:  Previous  1  2  3  4  5  6  7  Next

Last modified: May 25, 2011