BOISE -- West One Bancorp said the Idaho Supreme Court reversed an $8.3 million judgment against its principal bank subsidiary.
The judgment had been awarded in a lender liability lawsuit brought by Bliss Valley Foods Inc. and others.
The court returned the case for a new trial. It ruled against Bliss Valley's arguments that a borrower-lender transaction creates a fiduciary relationship or a basis for a tort claim based on bad-faith breach of contract, West One said.
West One said the court's rulings in the case were also expected to favorably affect five other lender liability cases pending in trial courts against the company's Idaho banking subsidiary.