Business Loans • Petition to Open Confessed Judgment
Santander Bank N.A. v. LMT Assocs. LLC, PICS Case No. 16-0198 (C.P. Philadelphia Jan. 13, 2016) Glazer, J. (6 pages).
Because defendant-borrower failed to indicate whether plaintiff-lender’s alleged breach occurred before or after its own breach, offered no evidence of a separate agreement reducing its monthly payments or supporting its vague allegation of fraud, and the 10 percent attorney fee provided for in the confessed judgment was not unreasonable, defendant failed to produce sufficient evidence substantiating its alleged defenses. Defendant’s petition to open judgment by confession and for stay of execution denied.
