May 21st 2018
Dr. Ashtan had a successful surgical practice. He worked hard and built a comfortable life for himself and his family. He took calculated risks and encouraged his children to be entrepreneurial.
When his son, Peter, undertook a real estate development project Dr. Ashtan fully supported his endeavor by personally guaranteeing a $2 million loan from a specialty lender to fund the project.
Unfortunately, due to either lack of experience, poor management, or plain bad luck, the real estate development went bust...View Memo