BMO Bank N.A. v. H&R Transport

I. BACKGROUND

Plaintiff is a national banking association. (ECF No. 1 at 2). Defendant H&R Transport is a commercial trucking business owned by Defendant Gill. (Id.). Plaintiff entered into a series of loan and security agreements (collectively, “the Agreements”) with H&R Transport in April 2022 (“Agreement 8001”), June 2022 (“Agreement 2001”), and December 2022 (“Agreement 28 1001” and “Agreement 7001”) where Plaintiff agreed to finance H&R’s purchase of vehicles.1 (Id. at 2-4). In turn, H&R agreed to pay Plaintiff pursuant to the terms of the Agreements. (Id. at 3-4). In connection with each Agreement, Gill executed a continuing guaranty where Singh guaranteed the performance of H&R’s liabilities to Plaintiff. (Id.). Pursuant to the Agreements, 5 H&R granted Plaintiff a first-priority security interest in the vehicles. (Id. at 4). Defendants 6 defaulted under the terms of the Agreements and each corresponding guaranty by failing to pay 7 the amount due to Plaintiff on December 1, 2023, pursuant to Agreement 7001, and by failing to 8 pay the amount due to Plaintiff on January 1, 2023 pursuant to the remaining Agreements. (Id. at…