US Bank's Consent Judgment Upheld In $30M RE Loan Row

Law360, New York (July 31, 2013, 6:58 PM EDT) -- A New Jersey appellate panel on Wednesday upheld a consent judgment entered by U.S. Bank against a real estate company that defaulted on a $30.3 million loan, ruling the bank could rightfully enter the judgment six months before the expiration of a forbearance agreement.

A two-judge panel on the Superior Court of New Jersey’s Appellate Division affirmed a lower court’s denial of a motion from Almonesson Associates LP to vacate a consent judgment entered by U.S. Bank allowing the bank to foreclose and take possession of...
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