Geringer Capital Inc. v. Blue Rider Finance CA2/7
In August 2006 Blue Rider Finance, Inc. made a $4.2 million bridge loan, personally guaranteed by Robert Geringer, the principal of Geringer Capital, Inc. (GCI), to several production companies to fund preproduction of the motion picture, “Boot Camp.” After the production companies defaulted on the bridge loan and Blue Rider sought to enforce Geringer’s personal guaranty, Geringer proposed GCI purchase the loan from Blue Rider. In early 2009, after months of negotiations, GCI delivered a series of payments totaling $300,000 to Blue Rider in anticipation of Blue Rider’s acceptance of the terms of a purchase loan agreement. When the deal fell through, Blue Rider informed GCI in May 2009 it was retaining the money as partial payment of the outstanding debt owed by Geringer and related parties as guarantors.
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