BankEast v. Michalenoick

The defendant, Charles Michalenoick Jr., appeals from an order of the Superior Court (Morrill, J.) granting plaintiff BankEast’s renewed motion for summary judgment in its action to recover on a loan guarantee. The defendant makes a variety of arguments, only one of which we need address here: that the trial court erred as a matter of law in determining that foreclosure proceeds did not constitute a paydown of principal on the loan secured so as to relieve the defendant from liability under the guarantee. We reverse.

This case previously came before this court on an appeal from an earlier…