CRE-Venture 2011-2, LLC v. Dowdy CA4/1
As part of a commercial loan transaction, a bank that was the predecessor to plaintiff and respondent CRE-Venture 2011-2, LLC (Lender) made a $2 million loan to Gateway Capital Group, LLC ("Gateway"). Gateway, as a limited liability company, is owned by its members who are three family trusts owned and administered by the Robinson extended family, defendants and appellants Scott B. Robinson and Susan B. Robinson as cotrustees of the Robinson Family Trust, et al. (Defendants). To secure Gateway's promissory note, Defendants signed and later modified trust deeds encumbering property they owned, a residence in Rancho Santa Fe (the Robinson home). The modifications of the Gateway loan and its security arrangement increased its amount upwards twice, to over $3.4 million.
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