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Breach of Contract › Loans › 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

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

Snell & Wilmer

Guarantors’ “Lost Profits” Completely Offset Lender’s Deficiency Claim

Snell & Wilmer on

Believe it or not, lenders can breach loan agreements too…and when they do, there can be significant consequences. In Great Western Bank v. LJC Dev., LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of...more

Baker Donelson

"I Knew You Were Trouble": Recent Trends in Lender Liability Litigation

Baker Donelson on

Lender liability claims generally arise in one of following contexts: (i) claims seeking recovery of damage or "leverage" to accept discounted payoffs; (ii) counterclaims to foreclosure/receivership/guarantor actions; or...more

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