NJ Appeals Court Affirms Bank's $2.5M Award In Loan Fight

Law360, Los Angeles (October 28, 2013, 5:04 PM EDT) -- A New Jersey appeals court on Monday shut down a project funding firm's attempt to shake a $2.5 million judgment against it over a bank loan it defaulted on when a financing project fell apart.

A panel for the New Jersey Superior Court's Appellate Division largely agreed with Judge Randal C. Chiocca, who was unpersuaded by Puddingstone Funding LLC's argument that Atlantic Stewardship Bank should have taken over the properties that collateralized the defaulted debt and used that to partially pay down what the financiers owed....
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