August 2016

Appeals Court Confirms Judgment for Fifth Third Bank

United States - Indiana

Fifth Third Bank successfully defended a trial-level judgment of more than $3 million against a guarantor real estate developer before the Indiana Court of Appeals. Faegre Baker Daniels obtained summary judgment against borrower Plainfield Village and guarantor George Broadbent in the trial court and then represented Fifth Third in the appellate victory.

On appeal, George Broadbent argued that the contract he signed as guarantor for a $9 million loan to build Plainfield Village was ambiguous and that a $4.4 million credit should have been applied to the debt before calculating the half he guaranteed. The appeals court rejected his argument and affirmed the lower court's calculation of his obligation.

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