Pa. Superior Court Affirms $2M Judgment Against Developer

Law360, Philadelphia (January 14, 2014, 5:58 PM EST) -- A Pennsylvania appeals court on Monday refused to overturn a $2 million judgment against a real estate developer that was written into a loan agreement and imposed after he and a partner failed to sell six luxury townhomes at the original asking price.

The three-judge panel ruled in favor of the bank DNB First NA, finding the trial court had acted appropriately in rejecting the efforts of one of two partners at KI Real Estate Associates LP to strike or reopen the judgment entered by confession....
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