BMO Harris Bank, N.A. v. Aspen Garfield Park Housing, LLC
Sep 07, 2012OUTCOME: Judgment in Favor of Plaintiff
Mr. Bowman and Kluever & Platt, LLC represented the commercial lender in this action to foreclose its mortgage on seven parcels of partial developed housing, as well as to enforce a commercial guaranty ... against the borrower’s principal. We appointed a receiver to manage the property during the pendency of the foreclosure. There were two mechanics lien claims filed by contractors that worked on the development of the property. We settled one mechanics lien claim, and were able to force another mechanics lien claimant to voluntarily release their mechanics lien. We obtained judgment in the bank’s favor on the foreclosure count, breach of note count against the corporate borrower, and breach of guaranty claim against the borrower’s principal. We also obtained judgment on the guarantor’s numerous affirmative defenses attacking the viability of the guaranty. The monetary judgments we obtained against the borrower and guarantor totaled $3,121,689.55. We then initiated a supplementary proceeding to collect on the judgment against the guarantor, and obtained a substantial monetary settlement with the guarantor.
