Legal Opinion
RTP LLC v. Orix Real Estate Capital, Inc.
Court of Appeals for the Seventh Circuit
Decided July 1, 2016No. 14-3671 & 15-1153PublishedCited by 64 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
ORIX Real Estate Capital made a loan of about $41 million to RTP, enabling it to buy a commercial building in North Carolina. The loan is nonrecourse, but both RTP and Inheritance Capital Group signed conditional guarantees that take effect if the borrower commits a default. (Inheritance has a new name, but we use the original, which appears throughout the litigation and the underlying documents.) The loan papers specify in detail what defaults activate the guarantees.
When the real estate market turned down, the building’s sole tenant decided not to renew its lease.…
2Cases cited8 opinions
- Hertz Corp. v. FriendSupreme Court of the United States · 2010
- Carden v. Arkoma AssociatesSupreme Court of the United States · 1990
- Navarro Savings Assn. v. LeeSupreme Court of the United States · 1980
- Americold Realty Trust v. ConAgra Foods, Inc.Supreme Court of the United States · 2016
- Barry C. Cosgrove, Cross-Appellee v. Joseph Bartolotta and Mary-Bart, Llc, Doing Business as Bartolotta's Lake Park BistroCourt of Appeals for the Seventh Circuit · 1998
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3Cited by64 opinions
- Raymond Loubier Irrevocable Trust v. Noella LoubierCourt of Appeals for the Second Circuit · 2017
- Brenda Mitze v. Andrew SaulCourt of Appeals for the Seventh Circuit · 2020
- 4900 Morse Land Trust v. Occidental Petroleum CorporationDistrict Court, N.D. Indiana · 2023
- ADA Carbon Solutions (Red River) v. Atlas CarbonCourt of Appeals for the Tenth Circuit · 2025
- Alvarado v. The Raymond CorporationDistrict Court, N.D. Illinois · 2025
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