The plaintiff brought a summary judgment motion to enforce a guarantee securing a $9 million commercial loan after the borrowers defaulted and the guarantors failed to pay on demand.
The defendants filed no evidence and did not attend the hearing.
Applying the Hryniak summary judgment framework, the court held there was no genuine issue requiring a trial and that the uncontested record established the guarantors' clear contractual liability for principal, interest, and enforcement costs.
Judgment was granted for $9,126,162.71, prejudgment and post-judgment interest as stipulated, and substantial indemnity costs.
