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Case Citations [i] (Fall 2025)

handle is hein.ali/retsgy0599 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Fall 2025 Citations SURETYSHIP AND GUARANTY 3D CHAPTER 3. INCIDENTS OF SURETYSHIP STATUS TOPIC 2. SECONDARY OBLIGOR'S RECOURSE AGAINST PRINCIPAL OBLIGOR TITLE C. RESTITUTION AND SUBROGATION D.Mass.Bkrtcy.Ct.2024. Cit. in disc. §§ 27-31 which constitutes most of Chapter 3, Topic 2, Title C. In joint Chapter 11 proceedings for debtors that each owned property that was part of a planned athletic, entertainment, and hospitality complex, debtors sought confirmation ofa proposed reorganization plan. This court overruled objections filed by general contractor that built an ice-skating rink on one debtor's property and had a claim against that debtor only, holding, among other things, that the doctrine of marshaling did not apply to require a senior secured creditor that had made term loans to debtors, each of which was obligated as either a borrower or guarantor under the loans, to first look to the collateral of guarantor debtors that were not obligated to general contractor before seeking satisfaction from the debtor that was obligated to general contractor, whose assets were general contractor's only collateral. In making its decision, the court cited the Restatement Third of Suretyship and Guaranty in noting that issues of subrogation would arise if a guarantor fully paid the debt of a primary obligor, and that, generally, a subrogated guarantor was entitled to an assignment of loan documents and rights to collateral. In re NESV Ice, LLC, 661 B.R. 427, 473. § 27. When Secondary Obligor Has a Right of Subrogation D.Mass.Bkrtcy.Ct.2024. Com. (a) quot. in disc. In joint Chapter 11 proceedings for debtors that each owned property that was part of a planned athletic, entertainment, and hospitality complex, debtors sought confirmation ofa proposed reorganization plan. This court overruled objections filed by general contractor that built an ice-skating rink on one debtor's property and had a claim against that debtor only, holding, among other things, that the doctrine of marshaling did not apply to require a senior secured creditor that had made term loans to debtors, each of which was obligated as either a borrower or guarantor under the loans, to first look to the collateral of guarantor debtors that were not obligated to general contractor before seeking satisfaction from the debtor that was obligated to general contractor, whose assets were general contractor's only collateral. In making its decision, the court cited COPYRIGHT C2025 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.