Surjit P. Soni, Milena Soni v. Tony Neman aka Homayoun Nemani
Published: Feb. 13, 2010 | Result Date: Oct. 8, 2009 | Filing Date: Jan. 1, 1900 |Case number: BC398714 Verdict – $3,479,440
Court
L.A. Superior Central
Attorneys
Plaintiff
Defendant
Thomas J. Weiss
(Law Offices of Thomas J. Weiss)
Facts
On Nov. 6, 2002, East West Bank loaned $4,620,000 to 1124 Marilyn Drive Development LLC whereby East West agreed to extend credit to 1124 Marilyn Drive and 1124 Marilyn Drive agreed to be bound to the loan agreement terms. On Oct. 29, 2007, East West assigned its interest in the Note and accompanying agreement to plaintiffs Surjit and Milena Soni. This included a Guaranty executed by defendant Tony Neman in favor of East West guaranteeing the obligations of 1124 Marilyn Drive. Later, events of default occurred and the Sonis declared that all sums were immediately due. As a result, 1124 Marilyn Drive filed for bankruptcy. At a subsequent foreclosure sale, the total sums due by 1124 Marilyn Drive and Neman amounted to $7,951,739. After the Sonis acquired the 1124 Marilyn Drive property for a credit bid of $5 million, the deficiency in the principal was $2,951,739. Thus, as of Sept. 19, 2008, an aggregate principal sum of $2,951,739 was due on the Notes in accordance with the loan terms.
Damages
The Sonis claimed $2,951,739, plus accrued interest, attorney fees, and costs.
Result
The jury found in favor of the Sonis.
Other Information
FILING DATE: Sept. 24, 2008.
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