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Business Law

Guarantors liable for balance of unpaid development loan (access required)

Where the bank showed the borrower breached three enforceable notes for development financing, and that the defendants had both signed guarantees, judgment was entered against the defendants for $864,536.61. Background Fulton Bank N.A. seeks judgment against two guarantors for amounts ...

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No evidence that race affected loan negotiations (access required)

Commercial Conditions requested by the City of Greensboro in connection with a proposed loan to a minority-owned television network were not unreasonable or overly burdensome. Moreover, the network did not present additional evidence establishing “a causal nexus” between any harm ...

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COVID-related spa closure could trigger ‘all risk’ coverage (access required)

Where an “all risk” policy included accidental or fortuitous “direct physical loss[es],” and it is plausible that a fortuitous “direct physical loss” could mean the property is uninhabitable, inaccessible or dangerous because of intangible or nonstructural sources, a spa that ...

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Company can’t avoid dismissal of its patent claims (access required)

A company that twice filed complaints asserting patent infringement and related claims based on its beverage dispending system couldn’t dodge a motion to dismiss by arguing it needed discovery. Its complaint, meanwhile, included only conclusory allegations and was dismissed. Background ...

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Class certified in peanut industry antitrust case (access required)

Where emails, conversations and deposition testimony, as well as the plaintiffs’ expert, suggested collusion among the defendants in the peanut selling industry resulted in approximately 12,000 farmers being underpaid, a class was certified. Background Plaintiffs are a group of peanut ...

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Multiple contacts support jurisdiction over defendants (access required)

Where a financial company reached into Virginia to solicit business from a Virginia-based plaintiff, the agreement contemplated performance in Virginia, money was exchanged and defendants communicated with plaintiff in Virginia “hundreds of times” by phone and email, Virginia’s long-arm statute ...

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Lloyd’s syndicates treated like limited partnerships (access required)

Although the Fourth Circuit has not addressed whether a Lloyd’s syndicate is more like a trust or a limited partnership, this court follows the approach adopted by five circuits, which treats the syndicates like limited partnerships. As such, defendants were ...

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