Knauf Insulation, Inc. v. Southern Brands, Inc.

Dist. Ct. did not err in granting plaintiff’s motion for summary judgment in action seeking to enforce personal guaranty signed by defendants-owners of corporation for $3.5 million in corporation’s debts to plaintiff. Ct. rejected defendants’ claim that language in guaranty did not cover corporation’s debts that occurred four years after execution of guaranty, where Ct. noted that instant guaranty expressly contemplated liability for future debts of unknown magnitude. Ct. also rejected defendants’ contention that instant lawsuit could not be filed in Indiana due to their lack of contacts with Indiana, since forum-selection clause in guaranty allowed for any lawsuit to enforce guaranty to be filed in Indiana. Dist. Ct. also properly dismissed defendant-corporation’s Sherman Act counterclaim where: (1) relevant limitations period is four years; (2) corporation waited seven years to file counterclaim after it had been dismissed from class action that had raised same issue as instant counterclaim; and (3) corporation could not rely on equitable tolling to render instant counterclaim timely, where it should have been aware of class action dismissal and yet took no steps to assert Sherman Act claim until filing instant counterclaim.