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IN RE PON

Bankruptcy No. 93-3-0199-TC.

164 B.R. 322 (1994)

In re Virginia PON, Debtor.

United States Bankruptcy Court, N.D. California.

March 7, 1994.

Attorney(s) appearing for the Case

Frederick D. Holden, Jr., Kevin B. Fisher, Renee L. Barton, Brobeck, Phleger & Harrison, San Francisco, CA, for Bank of America NT & SA.

Jeffrey J. Goodrich, Steven O. Gasser, Shartsis, Friese & Ginsburg, San Francisco, CA, for debtor Virginia Pon.

OPINION

THOMAS E. CARLSON, Chief Judge.

Debtor seeks summary judgment disallowing a $1.7 million claim asserted against her as a guarantor. The principal issue is whether Debtor validly waived the "Gradsky defense," under which a lender may not recover from a guarantor any deficiency remaining after a nonjudicial foreclosure on real property securing the principal obligation. I determine that Debtor...

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