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Secured Realty & Investments Inc. v. Bank of North Ga.

The trial court erred in denying the bank's motion for summary judgment in its suit to collect amounts due on a promissory note, as the bank established a prima facie right to judgment as a matter of law by showing that the promissory notes and guarantees were duly executed and were in default, and the defendants failed to meet their burden of pointing to specific evidence establishing an affirmative defense.

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These appeals arise from a bank’s lawsuit to collect amounts due on two promissory notes given or guaranteed by the debtors. The trial court denied summary judgment to the bank as to one of the notes and granted summary judgment to the bank as to the other note. Because there are no genuine issues of material fact, we affirm the grant of summary judgment and reverse the denial. “Summary judgment is proper when there is no genuine issue of material fact and the movant is entitled to judgment as a matter of law. We review the grant of summary judgment de novo, construing the evidence in favor of the nonmovant.” Citations and punctuation omitted. Brooks v. Gwinnett Community Bank , 311 Ga. App. 806 717 SE2d 647 2011.

So construed, the evidence shows that Secured Realty Investments, Inc., executed a promissory note, identified as Note 20, in favor of Bank of North Georgia “BNG” in the principal sum of $911,557, and Dennis McDowell personally guaranteed the note. Secured also executed another promissory note, identified as Note 21, in favor of BNG in the principal amount of $3.8 million, and McDowell personally guaranteed that note as well. Secured and McDowell defaulted and failed to pay the amounts due to BNG under the terms of the notes and guarantees.

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