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judge fallon

CIT GroupEquipment Fin. Inc. v. Airport Shuttle Inc.

Ruling
Guarantors protected from excessive recovery by creditor participating in obligor's bankruptcy.
Procedural posture

Plaintiff leasing company sued defendants, two guarantors, after a tour company defaulted on two master lease agreements. The leasing company had leased motor coaches to a touring company. The leasing company sought summary judgment on two Louisiana guaranty agreements.

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opinion summary, case decided on July 25, 2007 , LexisNexis #0807-113