When a lender sought summary judgment pursuant to a personal guarantee, the guarantor counter-claimed against the lender for breach of "fiduciary duties" owed to him.
In this case1, the guarantor alleged that the lender breached its fiduciary duty to him in four ways:
Awarding summary judgment to the creditor, the court held that, when making an advance to a borrower to purchase a business, a creditor could not reasonably be expected to provide an assessment or warranty regarding the performance of that business in the future.
The guarantor's counterclaim was struck out.
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