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Consumer Protection — Truth-in-Lending Act
By: WISCONSIN LAW JOURNAL STAFF//November 19, 2014//
Listen to this articleWisconsin Court of Appeals
Civil
Consumer Protection — Truth-in-Lending Act
DAC Management Company, a corporation owned by David A. Colletti, assumed two loans Town Bank made to another corporation and took out a third loan from the bank. David signed personal guaranties; his and his wife Pamala’s residence (“the property”) secured the loans. The circuit court awarded the bank a joint and several $1,095,671.71 money judgment against DAC, which was obligated under business notes evidencing the loans, against David, due to his personal guaranties, and against Pamala, as a spousal obligation under WIS. STAT. § 766.55(1), as referenced in WIS. STAT. § 806.15(4) (2011-12). It also granted the bank summary judgment on its mortgage foreclosure claim.
2013AP2777 TOWN BANK V. DAC MANAGEMENT COMPANY, DAVID A. COLLETTI AND PAMALA L. COLLETTI
Dist II, Waukesha County, Neubauer, P.J., Reilly and Gundrum, JJ.
Attorneys: For Appellant: Halloran, Thomas G., Oconomowoc; For Respondent: Bardosy, Adam, Milwaukee
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