Inland Wins Battle With Guarantors Over $60M Mall Loan

Law360, Wilmington (August 3, 2012, 8:55 PM EDT) -- An Illinois federal judge on Friday ruled that the guarantors of a $59.7 million delinquent loan for a Georgia shopping mall will have to pony up to lender Inland Mortgage Capital Corp despite a state court's refusal to recognize the foreclosure sale.

In a memorandum opinion, U.S. District Judge Milton I. Shadur granted summary judgment to Inland in a suit the company brought to enforce a loan guarantee provided by Chivas Retail Partners LLC and two related trusts.

Oakbrook, Ill.-based Inland made the loan in 2007...
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