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Breach of Contract › Default › Guarantors

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

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

Shumaker, Loop & Kendrick, LLP

Client Alert: North Carolina Court of Appeals Issues Important Opinion on Commercial Lease Guaranties

Shumaker, Loop & Kendrick, LLP on

Is a personal guaranty a separate agreement from the underlying contract it guarantees? The North Carolina Court of Appeals recently considered this issue in Friday Investments, LLC v. Bally Total Fitness of the...more

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