On August 17, 2012, Lou Mrachek and Roy Fitzgerald won a judgment in excess of $5 million on behalf of a Firm client in a state court action involving a defendant, Christopher J. Baker, who had guaranteed a $5 million loan made by the Firm’s client to an entity formed and controlled by Baker. The Firm initially sued Baker and his entity, CCB, in state court. CCB then filed a Chapter 11 bankruptcy. In the federal court bankruptcy action, after a number of contested hearings, both Baker and CCB entered into a settlement agreement that required certain payments to be made by CCB to the Firm’s client over time. Pursuant to the settlement agreement the bankruptcy was dismissed. CCB performed for some time and then defaulted pursuant to the settlement agreement. Consequently, the Firm applied to the state court for entry of a final judgment against Baker in the amount of his guaranty. The Trial Court entered a judgment in the amount of approximately $5.5 million against Baker. A copy of the court’s final judgment can be found here.
