When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty

When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty

On November 23, 2021, the First Department issued a decision in Harry Spring Consulting LLC v. Esterson, 2021 NY Slip Op. 06543, holding that when a guarantor buys the debt it guaranteed, an action to collect from the co-guarantors is one for contribution, not enforcement of the guaranty . . . Continue reading When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty