Edwards Family P’ship v. Dickson

The Partnership and Beher (the Lenders) loaned Community $16 million. Defendant is Community's founder, president and CEO. Defendant signed the identical loan agreements on behalf of Community and as a personal guarantor. On appeal, defendant argued primarily that summary judgment on his guarantor liability was premature because, in the bankruptcy proceedings at issue, he and Community were challenging the extent and validity of the underlying obligations. The court concluded that defendant personally guaranteed the Lenders that he would satisfy the obligations represented by the promissory notes no matter what. In this case, the Lenders presented sufficient evidence to establish defendant's liability as guarantor and they met their burden to recover on the guaranties. Furthermore, defendant has failed to present sufficient evidence to survive summary judgment on the amount of his obligation under the guaranty contracts. Accordingly, the court affirmed the judgment. View "Edwards Family P'ship v. Dickson" on Justia Law