Pennsylvania Supreme Court Clarifies Applicability of Act 6 To Residential Mortgage Foreclosures (Sort Of)

When the loan documents provide for confession of judgment and the collateral encumbered by the mortgage securing the loan is commercial real property, the foreclosure process in Pennsylvania is straightforward.  The lender first obtains a judgment by confession against the property owner.  Assuming that the property owner does not succeed in having the judgment opened…

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Co-Tenancy Clauses in a COVD-19/Post-COVID-19 World: Preparing for the “New Normal”

Co-Tenancy clauses have historically been included mainly in leases for mall and shopping center tenants (i.e., retail centers with big-box tenants, such as Dick’s Sporting Goods).  While the landscape for retail shopping center leasing has changed significantly in the years following the economic downturn of 2008, the onset of COVID-19 brings new challenges and considerations…

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Maryland’s Highest Court Confirms That Breach of Fiduciary Duty Exists As An Independent Cause of Action

Whether Maryland law recognizes an independent cause of action for breach of fiduciary duty has been an unsettled question.  As the Maryland Court of Appeals noted in its July 14, 2020 opinion in Plank v. Cherneski, “Maryland appellate courts have not spoken uniformly on this issue” and have “made seemingly inconsistent pronouncements.”   Consequently, “Litigants pick…

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Building Black-Owned Business in Baltimore

The protests engulfing the country over the last month have not only raised overdue awareness of the criminal justice system, but that they are just a symptom of the legacy of government policies and institutional practices that have advanced and perpetuated racial inequality. As a Baltimore-based law firm, we have reflected on ways that we…

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Navigating Existing “Future Debt Restrictions” After Obtaining PPP Loan

Many businesses that participated in the Paycheck Protection Program (“PPP”) may have inadvertently defaulted on some of their pre-existing credit facilities or outstanding loans. As has become standard within these debt instruments, lending institutions often protect their future income streams with provisions restricting or prohibiting their borrowers from taking on additional debt. Ordinarily, borrowers strictly…

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