Secretary of State and GOP nominee for Georgia Governor Brian Kemp continues sending out releases about his challenger’s debts — but he’s facing a financial feud of his own, with allegations that one of his companies defaulted on a half-a-million dollar loan for which he was a personal guarantor.
Kemp has since gradually divested in the company, but is named on the suit and was a hot topic in court.
“I don’t need help from him or anyone else and I didn’t interrupt him or anyone else when he was making the absurd argument…”
Attorneys are arguing whether a suit regarding an unpaid half million dollar agribusiness loan involving Secretary Brian Kemp should be settled by a judge or go to trial.
“They borrowed half a million dollars and didn’t pay it and don’t want to pay it. If you said that to the jury, they’d be scratching their heads, saying ‘why are we here?” says Patrick O’Brien, attorney for RIP Investments.
Kemp’s attorney is requesting a jury trial down the road and alleges that while Kemp’s company took the loan (Kemp owning at one point a quarter share) Kemp was only a personal guarantor. And because the loan is past due and the lender gave an extension on paying it, that Kemp doesn’t owe anything.
“All of which, under the law, changes the risk to Mr. Kemp and discharges hims liability,” says Chuck Connerly, Brian Kemp’s attorney.
“When a loan matures it doesn’t mean it’s expired, it means it’s due,” says O’Brien.
Not if it’s PAST due according to Kemp’s attorney…
“Mr. Kemp’s obligations under the guarantee expired on October 26th 2016,” says Connerly.
“If we reach the point where it’s due and I don’t pay it, I don’t have to pay it because my guarantee isn’t good anymore. It flies in the face of logic,” says O’Brien.
Complicating the case, Kemp’s status as Secretary of State AND the GOP nominee for governor.
“As everybody in the courtroom knows, Mr. Kemp is a public figure who is currently the Republican nominee for governor,” says Connerly.
“Campaigning for governor is not a legal excuse,” says O’Brien.
Kemp’s attorneys filed counteractions and alleged the lender pulled out on a settlement. This “risky business” begs another question…
“Show me the money…where’s the $500 thousand?”
The judge says he’ll rule “shortly.”