Marketplace of Rochester Hills v. Comerica Bank

Plaintiffs (collectively “Marketplace”) appeal as of right the trial court’s order granting Comerica Bank’s motion for summary disposition under MCR 2.116(C)(8). At issue in the present case is whether Comerica’s prior action (the “guaranty action”), principally against the guarantors of Marketplace’s mortgage, prevents Comerica from exercising its remedies under the parties’ mortgage. For the reasons stated in this opinion, we affirm the decision of the learned trial court.1

I. FACTS AND PROCEDURAL HISTORY

In 2007, Comerica loaned Marketplace about $25 million. Comerica secured the loan with a…