This case involves a loan the “Loan” made by First State Bank “First State” to Kelly Capital Investments, LLC “Kelly Capital” in 2010 to acquire and develop real estate in Henry County. The Loan was guaranteed by Robert D. Collins, William M. Collins, Curtis D. Collins III, Robbie L. Moore, Jr. and Collins Associates, LLP collectively, the “Guarantors”. The promissory note evidencing the loan the “Note” went into default in 2011, and First State entered into a modification and forbearance agreement with Kelly Capital and the Guarantors collectively, the “Borrowers” to cure the default and to forbear First State from enforcing its rights under the promissory note at that time the “Forbearance Agreement”. First State was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation was appointed as receiver for First State. Appellant Hamilton State Bank “Hamilton State” then purchased the Note and all the rights, title, and interest in the loan documents. The Note again fell into default, leading to the Hamilton State filing the instant suit against the Borrowers to recover under the terms of the Note and guaranties. The Borrowers each filed an answer and asserted counterclaims. Kelly Capital asserted a claim against Hamilton State for reformation, and the Guarantors asserted counterclaims for fraudulent inducement, breach of the duty of good faith and fair dealing, declaratory judgment, specific performance, reformation and breach of contract.
After several hearings, the trial court entered a final order, ruling on all the parties’ outstanding motions in this case, including: Hamilton State’s motion for judgment on the pleadings as to its claims under the Note and guaranties; Hamilton State’s motion for summary judgment; the Borrowers’ motion to strike portions of the affidavit in support of Hamilton State’s motion for summary judgment; Hamilton State’s motion to dismiss the Borrowers’ counterclaims; and the Borrowers’ motion for partial summary judgment. In the final order, the trial court also granted Hamilton State’s motion for summary judgment as to its claims to recover under the Note from Kelly Capital, but denied summary judgment as to its claims to recover from the Guarantors. The trial court granted the Borrowers’ motion for partial summary judgment on the Borrowers’ counterclaims for reformation and the Guarantors’ counterclaims for breach of contract and specific performance.
