Legal Opinion
LSREF2 Clover Property 4, LLC v. Festival Retail Fund 1, LP
California Court of Appeal
Decided October 4, 2016No. B259937PublishedCited by 7 opinions
1Opinion of the Court
Opinion
BOREN, P. J.—
Defendant and respondent Festival Retail Fund 1, LP (Festival Fund), guaranteed a loan made to an affiliate in connection with the purchase of a retail property. Following default on the loan and a nonjudicial foreclosure, plaintiff and appellant LSREF2 Clover Property 4, LLC (Clover), sought to enforce the guaranty. At a bench trial, the trial court determined the guaranty was unenforceable. The court found that Festival Fund was protected by antideficiency laws because it was, in reality, the primary obligor on the loan and the loan guaranty was effectively a sham.
We…
2Cases cited13 opinions
- Mesler v. Bragg Management Co.California Supreme Court · 1985
- Las Palmas Associates v. Las Palmas Center AssociatesCalifornia Court of Appeal · 1991
- Haworth v. Superior Court of Los Angeles CountyCalifornia Supreme Court · 2010
- Shaw v. County of Santa CruzCalifornia Court of Appeal · 2008
- Communist Party of the United States of Amerika v. 522 Valencia, Inc.California Court of Appeal · 1995
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3Cited by7 opinions
- Eddie Tourelle's Northpark Hyundai, L.L.C. v. Hyundai Motor America CorporationDistrict Court, E.D. Louisiana · 2019
- Estate of Mallen CA1/1California Court of Appeal · 2021
- Horowitz v. Domagalski CA1/3California Court of Appeal · 2021
- In Re Hoag Urgent Care-Tustin, Inc.District Court, C.D. California · 2021
- Mortimer, R., Aplt. v. 340 Associates, LLCSupreme Court of Pennsylvania · 2021
2 more not listed; retrieve them via the Exa API.