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Ameris Bank v. Alliance Inv. & Mgmt. Co. LLC

The defendant companies as borrowers and an individual defendant as a guarantor were estopped by silence from asserting any defense to their obligation on a $5.9M note, since the individual defendant signed several renewals on the note on behalf of all of the borrowers without contacting the lender about his 2008 proposal to sell the companies, and paying the then-balance on the $4.8M loan.

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In this suit on a note and accompanying guarantees, the trial court determined that the defendants had raised issues of fact about certain defenses, and it therefore allowed the case to go to trial. A jury returned an award in favor of the bank but for significantly less than the total amount due. The jury also found in favor of one defendant on his counterclaim. The bank appeals and primarily contends the trial court erred by denying its motions for directed verdict on the note and guarantees. We agree and reverse.

The appellees do not dispute the basic facts regarding the loan and the related agreements set out in the appellant’s brief, many of which were stipulated at trial. In accordance with Rule 25 b 1 of this Court, we therefore accept them as true and reproduce an abbreviated and edited version below.

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