Appearing on behalf of creditors in a debt
claim against a guarantor, where the guarantor alleged that his signature had been forged.
In a recent decision, the Bankruptcy High Court has set aside a statutory demand
against a guarantor of a debt of over $ 6 million on numerous grounds including lack of evidence of an assignment of the debt in question, a limitation defence and the contractual interpretation of the guarantee.
This could involve placing the company into administration or sequestrating / instigating
bankruptcy against a guarantor or individual, and forcing the sale of assets.
The borrower companies failed to make the payments under the loans, so Investec made
demands against the guarantors in respect of the personal guarantees.
Once perfected, statutory demands were
presented against both guarantors which resulted in the immediate start of negotiations followed by an instalment settlement of the entire debt, plus interest.
It is really a business decision for the lender to determine whether it would receive more money by accepting the Farmington Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or
claims against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the St Paul Central Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the Eden Prairie Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the Minnesota Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the Anoka Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the St Louis Park Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the West Bloomington Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)
It is really a business decision for the lender to determine whether it would receive more money by accepting the St Paul Daytons Bluff Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims
against guarantors, for loans on which those remedies are available.)