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Tag Archives: Creditor’s Rights

Confession Of Judgment With No Affidavit Set Aside (access required)

A Fairfax Circuit Court sets aside a confessed judgment against guarantors of a business loan by plaintiff bank, because an affidavit was not filed simultaneously with the confession of judgment, as explicitly required by the language of the guaranties. The ...

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No ‘Deepening Insolvency’ Claim for Law Firm (access required)

Holding that neither Virginia nor Delaware would recognize a claim for “deepening insolvency,” an Alexandria U.S. District Court dismisses a Swedish law firm’s claim for breach of fiduciary duty against a defendant who allegedly failed to pay legal fees for ...

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Creditor’s Rights – Promissory Note – Default – Guarantor Liability (access required)

A creditor on a promissory note is not obliged to sue the guarantor on the note first, and a Danville U.S. District Court enters judgment for plaintiff creditor, as defendant maker of the note admits he is in default and ...

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