Unmitigated Waivers: Guarantors Remain Liable Despite 4-Year Delay in Foreclosure Sale
By: Ben Reeves If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In Pi’ikea, LLC v. Williamson, 683 Ariz. Adv. Rep. 32 (Ct. App. 2014), the Arizona Court […]
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4 min read
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Tagged: Guarantor, guaranty, impairment of collateral, mitigation of damages, Pi'ikea v. Williamson, waiver
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Ben Reeves
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