The brand new guarantee desire under the Mention try “independent and you can distinct” regarding appeal stored by the SunTrust as lender
ECMC concedes one to any sort of desire they obtained of SunTrust using Suntrust’s task about potential away from financial is bound by 2005 default judgment facing SunTrust. Rather, ECMC contends so it keeps a legitimate desire according to the Mention in potential due to the fact guarantor, which it gotten of the task out-of PHEAA and you may through to replacement during the the original challenger proceeding. Thus, an important concern to your appeal issues the newest range out-of PHEAA/ECMC’s leftover demand for the “separate and you can distinct” capabilities since the guarantor, and you will whether the standard wisdom up against SunTrust discharged one to attract thus about extinguish ECMC’s rights obtained because of the project from PHEAA. (more…)
