In 2006 a lender advanced $3.11m to a corporate entity of which the attorney was a shareholder and director. The attorney’s mother gave a guarantee of company’s debt, supported by a mortgage over three security properties.
The mother was resident in a nursing home at the time of entry into the transaction. The son executed the guarantee and mortgages on her behalf under a power of attorney given by the mother prior to her entry into the nursing home. More…
