PARIS – Like his wife did last Monday, Randy Dunican spent all day Monday on the witness stand at Oxford County Superior Court in Paris.
Dunican is Portland lawyer Daniel G. Lilley’s last witness in a case that pits Lilley’s clients, Steamship Navigation Corp. and its officers, Randy and Kathleen Dunican, against Camden National Bank and a bank officer.
Monday marked the sixth day of testimony in Lilley’s presentation, the first day for Randy Dunican.
Steamship Navigation and the Dunicans are seeking between $4 million and $5 million in damages in the civil suit. The trial opened Sept. 13.
The suit charges Camden National Bank with fraud, misrepresentation and breach of contract in a matter that culminated in 2000 with the bank’s foreclosing on properties owned by Steamship and the Dunicans.
Portland lawyer Peter J. DeTroy III has argued otherwise, claiming that neither of his clients, Camden National Bank and defendant Stephen C. Staples, vice president of commercial banking at the Camden branch, were guilty of any wrongdoing, and that the foreclosures were legal.
DeTroy is expected to finish questioning Dunican today, then begin his defense presentation later Tuesday morning.
At 3:05 p.m. Monday, DeTroy quickly attempted to retrace Randy Dunican’s early history with the bank. He began with a $60,000 loan in 1995 for a proposed steamship ferry boat project that never happened.
Dunican said he told bank officials that the project had been put on hold.
Then, DeTroy abruptly told Dunican to “keep your voice up. It’s important for the jury to hear you.”
Testimony shifted to the bank’s $450,000 loan in early 1998, with which Steamship and the Dunicans purchased land in Warren on which to build a large rifle range and sporting goods business under RD Outfitters Corp.
DeTroy walked Dunican through a proposed financial plan for RD Outfitters dated Oct. 23, 1997.
Through a series of rephrased questions, he attempted to get Dunican to admit that he had stated in the plan that it would take a year to build the firing range.
Dunican did not acquiesce. Instead, growing increasingly frustrated with DeTroy’s line of questioning, Dunican said that when trying to get the loan he never told the bank that it would take 12 months to build the range. In fact, he said the range was never completed.
“No one had ever done this before now,” Dunican said, arguing why he only gave the bank a 12-month representative sampling of cash-flow projections and anticipated profits.
When Dunican tried to respond with more details, DeTroy interrupted, quickly telling him to “answer my questions. We have a lot to cover and not a lot of time to cover it.”
DeTroy argued that like the ferry boat project, RD Outfitters Corp never made any money as projected. Instead, he said, according to tax returns, it lost $165,000 in 1998 and $42,000 in 1999.
Questions then shifted to the next series of loans to Steamship and the Dunicans, followed by the $650,000 loan on Sept. 25, 1998, that enabled Randy Dunican to buy Mt. Abram Ski Resort and land that he got at an August 1998 auction.
DeTroy tried to get Dunican to admit that he had asked the bank for a $600,000 loan with which to buy the resort at the auction. Dunican argued that he did not.
The day’s session then recessed at 4:05 p.m. and is to resume at 8:30 a.m. today.
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