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Appeals › Loans › Guarantors

Vorys, Sater, Seymour and Pease LLP

Ohio Supreme Court Ruling Clarifies Whether Banks Owe a Duty to Loan Guarantors

Vorys, Sater, Seymour and Pease LLP on

The Ohio Supreme Court overturned the First Appellate District’s ruling in Huntington National Bank v. Schneider (Case No. 2024-0208), clarifying when banks must disclose material information to loan guarantors. In a case...more

Walkers

Privy Council clarifies secured party’s duty when realising security

Walkers on

The Privy Council has clarified that the duty of care to "obtain the best price reasonably obtainable" in the sale of secured collateral does not require a secured party to improve an asset before sale to obtain the best...more

Rosenberg Martin Greenberg LLP

What Are the Rights of a Guarantor Who Buys a Loan Against Co-guarantors?

Rosenberg Martin Greenberg LLP on

The scenario is fairly common. A bank makes a loan to a business. The owners of the business guarantee the loan. The business defaults. The owners blame each other for the failure of the business. When the bank demands...more

Bilzin Sumberg

Eleventh Circuit Holds that a Guarantor Lacks Standing Under the Equal Credit Opportunity Act

Bilzin Sumberg on

Late last month, the U.S. Court of Appeals for the Eleventh Circuit held in Regions Bank v. Legal Outsource PA, No. 17-11736, 2019 WL 4051703 (11th Cir. Aug 28, 2019), that a loan guarantor does not qualify as an “applicant”...more

Maynard Nexsen

SC Court of Appeals Rules Against Absentee Guarantor - Power of attorney afforded normal contract interpretation rules

Maynard Nexsen on

On August 3, 2016, the South Carolina Court of Appeals released First South Bank v. Rosenberg, Op. No. 5437 (S.C.Ct.App. filed August, 3, 2016) (Shearouse Adv.Sh. No. 31 at 75). In First Bank, the Court of Appeals considered...more

Lathrop GPM

8th Circuit Rules ECOA Does Not Apply to Guarantors of Loans

Lathrop GPM on

After argument before the U.S. Court of Appeals for the 8th Circuit in Hawkins v. Community Bank of Raymore, Case No. 13-3065, Lathrop & Gage attorneys Tom Stahl, Greer Lang and Justin Nichols obtained a ruling that the Equal...more

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