N.B.S.C. v. Capital South Bank, Neptune Beach, Florida
Group of five doctors/investors purchased a medical building with financing by Capital South Bank. They intended to lease a portion of the building to themselves and lease the remainder to other medical practices. They immediately ran into trouble when leasing did not take off as planned. Loan payments ceased almost at the beginning of the loan. All of the principals were personal guarantors of the loan although they had differing financial profiles. That led to infighting among the investors. Eventually, a workout that allowed for two of the principals to buy out the other three along with relief from the bank in the form of a forbearance in payments and waivers of fees and costs and personal guarantees for the exiting partners allowed for a successful restructure of the transaction.
4.9 Rating on 
