Facts

The plaintiff is Revere Financial Corp. and the defendant is Strock Consultants.

The plaintiff alleged that the defendant, Harry Shilvock, along with a co-shareholder, signed a personal guaranty to Bank of America. It was a $100,000 personal guaranty and for a business line of credit to their closely held corporation. The parties stipulated that $100,000 would be advanced and used. Further, according to the stipulation, the plaintiff bought the rights to the claim.

Defendant Shilvock asserted that his signature was forged. Further, it was not authorized by his partner.

Settlement Discussions

The plaintiff demanded $60,000 and the defendant offered $30,000.

Damages

The claimed damages was $100,000 plus attorney fees and interest. Accordingly, the total damages was $150,000.

Result

The judgment was for the defense.

Other Information

Per a contract provision, the defendant moved for attorney fees.