Banking
Apr. 24, 2012
Moneyball: guarantors hit by hardball with Cherryland decision
Borrowers should be wary of the recent Michigan decision involving 'limited' guarantees. By Gordon L. Gerson of Gerson Law Firm APC
Before the rites of baseball spring training began in 2012, this winter a Michigan court delivered a hardball pitch to borrowers and a moneyball to lenders. It is also the story when a bad boy-carve-out becomes a strikeout.
In Wells Fargo Bank v. Cherryland Mall, LP et al., a limited guaranty became a full guaranty in a manner that the guarantor and both its mortgage broker and its legal counsel at the time of loan originatio...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In