Search Site
Menu

Borrower and its Principals Learn $1.8M Lesson that Contractual Covenants and Warranties Mean Something

On October 6, 2021, Murray Weiner obtained a $1.8 million arbitration award against a
corporate borrower and its principals on a promissory note, jointly and severally. The corporate
entity and its principals agreed and warranted in the loan documents that the borrowed funds
would only be used for specific identified purposes. The money was not used as agreed and
substantial payments were also improperly made to the principals. As a result, the arbiter found
that, in addition to the corporate entity being liable, the principals who agreed and warranted
compliance with the covenants and warranties in the loan documents regarding use of the
borrowed money, were also personally liable for the debt.

Awards
Pay Now
Enter Account No:
MULLIKEN LAW IN THE COMMUNITY
Mulliken Weiner Berg & Jolivet P.C. attorneys are active in the community, frequently in the news and prolific writers, keeping the public and their fellow lawyers abreast of the newest concepts affecting the nation and residents of Colorado. We’re proud of the work we do for the people of Colorado and how we influence business and government. Below, we’ve provided our recent news articles, community engagement events and publications for your review.
Awards