Confidential
Settlement – $252,052Facts
The claimant, state bank, commenced an arbitration for damages under a written guaranty executed by the respondent. The plaintiff claimed that the respondent had guaranteed the indebtedness of the corporate borrower. The respondent contended that he had no liability under the written guaranty to the claimant. The claimant brought this action against the respondent based on a breach of written guaranty theory of recovery.
Settlement Discussions
The claimant made a settlement demand of payment of the principle, interest, late fees, attorney's fees and costs. The respondent made no settlement offers.
Damages
The claimant claimed $204,776.05 in damages, interest at the contract interest rate, late fees, attorney's fees and costs.
Other Information
The award was rendered approximately six months after the case was filed. The arbitrator awarded $204,776.05 (prior debt); $22,621.30 (interest); $174.50 (late fees); $22,750 (attorney's fees); and $1,730.23 (costs).
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390