Smith adv. Westport
FBBC successfully defends couple personally sued for $2,400,000 by commercial lender. The lender sued the couple seeking $2,400,000 on a personal guarantee agreement they signed. The couple signed the agreement with the lender guaranteeing the debt of a family member’s business. When that business went under, the lender personally sued the couple for recovery of the entire debt, totaling $2,400,000. If successful, the suit would have economically devastated the couple. After a three-week jury trial, FBBC obtained a complete exoneration for the couple. FBBC proved that the lender had concealed information from the couple, lulling them into signing the guarantee by, among other things, withholding key information from them. As a result, the jury found in favor of the couple on all claims, awarding the lender nothing. The couple is now pursuing recovery of all their legal fees and expenses from the lender.