Bank vs. Architects Case May Not Be Over

SAN FRANCISCO-The lawyer representing two Marin County architects says they are considering a further appeal of a state appellate court ruling that struck down their $41.8 million jury award from a bank that foreclosed on an Oakland redevelopment project.

The state Court of Appeal in San Francisco on Monday overturned the award won in Alameda County Superior Court in 2000 by Glenn and Richard Storek, owners of the architecture and development firm of Storek & Storek Inc.

The award was assessed against Citicorp Real Estate Inc., a subsidiary of Citibank. The bank granted Storek & Storek a loan of $8.9 million to help pay for a project called Old Oakland, but declined to pay the last $900,001 after concluding the project was financially shaky and was not meeting the terms of the loan agreement.