Chowdhury v. BankUnited, N.A.
Guarantors appealed a final summary judgment enforcing two personal guaranties and rejecting their counterclaim for breach of fiduciary duty against the lender. The Third District affirmed, holding that a lender's refusal to accept or negotiate a commercially unreasonable third-party purchase offer (half the outstanding debt, conditioned on release of the guaranties) could not constitute a breach of any fiduciary duty, and that the wife's guaranty was supported by consideration in the form of the bank's written consent to a 50% ownership transfer.
Key facts
- Guarantors of two personal guaranties appealed summary judgment entered against them on the guaranties and their counterclaim for breach of fiduciary duty against the lender-bank.
- The guarantors alleged the bank breached a fiduciary duty by refusing to accept or negotiate a third-party purchase offer for approximately half the outstanding debt conditioned on release of the guaranties.
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Why it matters
The opinion supplies a clean, citable roadmap for the allocation of burdens under Florida's federalized Rule 1.510, including the point (following the Second DCA's G & G In-Between Bridge Club decision) that a… — full analysis with a trial
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