Panagakos v. Collins

The defendant Walter Collins (Collins) leased property for his restaurant business, McWal, Inc. (McWal), from the plaintiff, Michael Panagakos, for several years. During the course of renegotiating the lease, Collins gave Panagakos a personal written guaranty. A little more than a year later, the restaurant closed and the defendant left the premises with three and one-half years left on the lease. Panagakos sued Collins to recover for breach of the written guaranty and to set aside a fraudulent conveyance of real estate between the defendant and his wife. The trial judge, in careful findings,…