Therefore, I conclude that a right of contribution among § 145 co-indemnitors exists under Delaware law and ought to be recognized, especially in this instance where one co-indemnitor acted inequitably. See Pozsgay v. Free, Ill.App., 409 N.E.2d 554, 557 (1980) ("If defendants are compelled to pay more than their share . . . the co-indemnitors . . . should be required to bear their ratable proportion of the amount the [defendants] are required to pay. An indemnitor, as any joint obligor, who pays more than his share is entitled to contribution from the other indemnitors.").See Estate of Keil, Del. Supr., 145 A.2d 563, 566 (1958) ("A joint and several obligation under [Delaware] law may be enforced by the creditor against both or either; but as between obligors each of them, in the ordinary case, is liable for one-half the debt.").
As stated in the Prior Order, the liability of the co-defendants is joint and several, entitling Merrill Lynch to seek the entire debt from any or all of them. Furthermore, to the extent that "a guarantor has paid more than his or her proportionate share of a common liability, [that guarantor] is entitled to contribution from any co-guarantors" by way of a cause of action for contribution (Leo v Levi, 304 AD2d 621, 623 [2nd Dept 2003]; Trossman v Philipsborn, 373 Ill App3d 1020, 869 NE2d 1147 [Ill App 1st Dist 2007]; Pozsgay v Free, 87 Ill App3d 1113, 409 NE2d 554 [5th Dist 1980]). Accordingly, it is
In the event that any individual guarantor pays Merrill Lynch more than his/her fair share, both New York and Illinois afford that guarantor a right to seek contribution from the other guarantors. "[A] guarantor who has paid more than his or her proportionate share of a common liability is entitled to contribution from any co-guarantors" (Leo v Levi, 304 AD2d 621, 623 [2nd Dept 2003]; Trossman v Philiosborn, 312 Ill Dec 156, 869 NE2d 1147 [Ill App 1st Dist 2007]; Pozsgay v Free, 87 Ill App 3d 1113, 409 NE2d 554 [5th Dist 1980]). This court has examined the remaining contentions of the parties and finds them to be without merit.