The range of different types of guaranties and the particular circumstances which trigger guaranty liability are extremely varied. For example, there are guaranties of payment, guaranties of collection and “bad boy” guaranties which import guaranty liability into nonrecourse lending situations if certain acts are committed (i.e. a voluntary chapter 11 filing by the borrower) or conditions are permitted to arise (i.e. waste or environmental contamination).
Guaranties are not self-executing and often are not collateralized. Any commercial lender or other holder of a guaranty will normally find itself having to vigorously take the offensive to collect upon a guaranty. Filing suit and obtaining a judgment are often only the first steps towards collecting upon a guaranty. Asset protection strategies and statutory limitations with regard to limiting creditors to the charging order remedy when collection against membership interests in limited liability companies can pose serious roadblocks and challenges to guaranty judgment collection.
The attorneys of Rose Law Group have the depth of experience and knowledge to go far beyond the surface in utilizing post-judgment discovery and collection procedures. This includes, but is not limited to, challenging asset protection structures on alter ego theories, third party discovery and collection, foreign asset discovery and collection and fraudulent transfer and trust fund theory challenges to various efforts to divert assets from the reach of guaranty judgment creditors.
Attorneys of the Rose Law Group team possess numerous credentials attesting to their expertise and specialization in guaranty litigation and claims. These credentials include, but are not limited to, Certified Business Bankruptcy Specialist, American Board of Certification; Certified Creditors’ Rights Specialist, American Board of Certification; and Certified Bankruptcy Specialist, State Bar of Arizona Board of Legal Specialization.
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By Madelaine Braggs | Rose Law Group Reporter Having a worse case scenario plan can make all the difference for a business’ long-term success. That was the featured topic at this week’s ‘World’s Best Connectors‘ round table, presented by Shruti Gurudanti, Corporate Transaction Chair at Rose Law Group. Gurudanti says due to covid, 31.3% of small businesses in Arizona closed down and many
Supreme Court rules ruling deals major setback to Prop 208, ruling vital provisions are unconstitutional. Sends case back to trial court.
(Disclosure: Rose Law Group represents Ann Siner of My Sister’s Closet and Judge John Buttrick in their litigation efforts against 208.) By Jeremy Duda | AZ Mirror The Arizona Supreme Court refused to block a voter-approved tax hike on the state’s top earners, rejecting a challenge brought by Republican lawmakers and a local business, who argued that the tax violated
(Disclosure: Rose Law Group represents Ann Siner of My Sister’s Closet and Judge John Buttrick in their litigation efforts against 208.) By Arjun Rondla | Chamber Business News The Arizona Supreme Court last Thursday issued a ruling that puts the future of Proposition 208 on shaky ground. Narrowly adopted by voters last November, Proposition 208 sought to increase Arizona’s top state income tax rate by more than