United States First Circuit

In an action seeking to recover the deficiency remaining on an SBA loan, district court's judgment against plaintiff is affirmed where: 1) the district court properly found the guaranty ambiguous and conducted a trial on extrinsic evidence; and 2) defendant could not subordinate its first priority in the collateral to the loan without defendant's consent.

Appellate Information

• Decided 05/07/2009
• Published 05/07/2009

Judges

• BOUDIN, Circuit Judge., Before BOUDIN, JOHN R. GIBSON, and HOWARD, Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Christopher P. Litterio, with whom Michael J. Duffy and Ruberto, Israel & Weiner, P.C., were on brief, for appellant.


• For Appellees:
  
• Daniel J. Murphy, with whom Stanley W. Wheatley and The Murphy Law Group, LLC, were on brief, for appellee.