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Tag Archives: Creditor’s Rights

Guarantor’s Cross-Claims Cover Different Issue (access required)

As plaintiff bank settled its collection action on a Promissory Note by settling with six guarantors and jointly moving for a voluntary dismissal, a Norfolk U.S. District Court says a defendant who opposed dismissal cannot pursue cross-claims against the settling ...

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Veterans, Unemployment Benefits Exempt from Creditor (access required)

A Richmond Circuit Court dismisses a judgment creditor’s garnishment action against a debtor who has properly claimed exemptions in veteran’s benefits and unemployment benefits. The creditor cited as authority Roe & Assocs. v. White, No. CL 04S-1656, 71 Va. Cir. ...

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Guarantor Personally Liable Under Note ‘Carve-Out’ (access required)

A non-recourse promissory note guaranteed by defendants has a “carve-out” that covers transfer such as liens that arose when defendant failed to pay city utility bills on the apartment complex purchased with the $8.3 million loan, and this makes defendants ...

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