Texas beverage firm's loan default leaves co-owner facing $619,419 judgment
AI summary
The Texas Sixth Court of Appeals upheld a $619,419 judgment against Theresa Pham for personally guaranteeing a defaulted loan for Holy Kombucha. The court rejected her claim that the guaranty was extinguished, finding the total debt remained above the termination threshold.
Key takeaways
- The appeals court affirmed a $619,419 judgment against co-owner Theresa Pham.
- The court found the personal guaranty remained active during the company's default.
- Pham's objections regarding venue and evidence were deemed waived or improper.
- A dissenting justice argued the admitted balance sheet was created for litigation.
Read the original at Times of India
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