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First Interstate Bank’s insurer won’t pay $24.5M verdict awarded Missoula logging company

First Interstate Bank's insurer won't pay $24.5M verdict awarded Missoula logging company

Another volley has been lobbed in the back-and-forth legal drama over who will pay the $24.5 million that jurors awarded a now-defunct Missoula logging company that sued First Interstate Bank.

The bank then sued its insurer, Columbia Casualty, for refusing to cover the payout under its policy and for allegedly misleading the bank into thinking it shouldn’t settle for far less money.

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Forest Service-funded study: Timber sale lawsuits impact local jobs, tax revenue

Forest Service-funded study: Timber sale lawsuits impact local jobs, tax revenue

The largest potential economic impacts to communities from timber sale lawsuits come in the form of lost jobs, labor income and federal, state and local taxes, according to a study by the University of Montana’s Bureau of Business and Economic Research. The report was paid for by an agency that often has to defend itself against timber sale lawsuits, the U.S. Forest Service, and a pro-timber industry coalition, the Montana Forest Products Retention Roundtable.

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Columbia Falls, MT company works to build a future with cross laminated timber

Columbia Falls, MT company works to build a future with cross laminated timber

A young company in Columbia Falls is finding success in developing new construction material, and they’ve just received a federal grant to help push that success to the next stage. Earlier this month, Smartlam Technologies, in Columbia Falls, received a $250,000 grant from the U.S. Department of Agriculture.

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Missoula County judge upholds 17M verdict in logging company lawsuit against bank

Missoula County judge upholds $17M verdict in logging company lawsuit against bank

Calling First Interstate Bank’s actions “reprehensible,” Missoula County District Judge Ed McLean this week upheld a jury’s decision to award a defunct logging company more than $17 million in damages – and tacked on $7.5 million in attorney fees. Kelly Logging Inc., which was the largest timber company in Montana and Idaho and employed dozens of loggers before closing, was awarded the damages by a Missoula jury in August after a one-week trial.

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