Secretary of State and GOP nominee for governor, Brian Kemp, continues this week sending out releases about his challenger’s debts — but he’s facing a financial feud of his own, with allegations that one of his companies defaulted on a major loan for which he was a personal guarantor. Kemp has gradually divested in the company, but is named on the suit and was a hot topic in court.
A judge playing referee as two attorneys battle in court saying, “I don’t need help from him or anyone else and I didn’t interrupt him or anyone else when he was making the absurd argument.”
Attorneys arguing whether a suit regarding an unpaid half million dollar agribusiness loan involving Secretary Brian Kemp should be settled by a judge or go to trial.
Patrick O’Brien, Attorney for RLP Investments, said, “They borrowed half a million dollars and didn’t pay it and don’t want to pay it. The jury would be scratching their head”
Kemp’s attorney, Chuck Connerly, requesting a jury trial down the road and alleging that while Kemp’s -company took the loan; Kemp owning at one point a quarter share. Kemp was only a personal guarantor. And because the loan is past due and the lender gave an extension on paying it that Kemp doesn’t owe anything.
Connerly said, “They altered the scope of Mr. Kemp’s risk by extending the maturity date.”
O’Brien shot back, “When a loan matures it doesn’t mean it’s expired, it means it’s due.”
Not if it’s past due according to Kemp’s attorney– “the guarantee executed by Kemp expired October 2017.”
“ I don’t have to pay it because my guarantee isn’t good anymore flies in the face of logic,” O’Brien said.
Complicating the case, Kemp’s status as Secretary of State and the GOP nominee for governor.
Kemp’s attorneys filing counteractions and alleging the lender pulled out on a settlement…This “risky business” begging another question:
“Show me the money. Where’s my half million dollars? I thought they would have brought it in and put it on the table.”
The judge says he’ll rule shortly.