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Expert Analysis

'Lost Profits' Completely Offset Lender Deficiency Claims

Law360, New York ( January 13, 2016, 11:19 AM EST) -- Believe it or not, lenders can breach loan agreements too ... and when they do, there can be significant consequences. In Great Western Bank v. LJC Development LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of Appeals affirmed that guarantors' "lost profits" resulting from the lender's breach of a loan agreement completely offset the amount owed under the guaranty. Much can be learned from this unusual outcome, so please continue reading for an analysis of the facts and legal principles of this case....

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