{"id":3310,"date":"2014-04-18T14:11:56","date_gmt":"2014-04-18T18:11:56","guid":{"rendered":"https:\/\/www.khflaw.com\/?p=3310"},"modified":"2020-09-23T18:10:40","modified_gmt":"2020-09-23T22:10:40","slug":"application-fair-market-credit-new-jersey-appellate-division","status":"publish","type":"post","link":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/","title":{"rendered":"No Application of Fair Market Credit by New Jersey Appellate Division"},"content":{"rendered":"<h2><\/h2>\n<p>The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits. In the case of Atlantic Stewardship Bank v. Puddingstone Funding, LLC, (2013 WL 5777539) the New Jersey\u2019s Appellate Division held that the amount of the outstanding debt the defendants were required to re-pay should not have a \u201cfair market value credit\u201d applied to it.<\/p>\n<p>Plaintiff Atlantic Stewardship Bank sought to collect on a $2.5 million note that matured on July 1, 2009 and it also alleged defendants had defaulted on their loan obligations by failing to make two monthly payments in June and July 2009. Defendants Puddingstone Funding, LLC, et al. rebutted by stating, among other things, that plaintiff had acted in bad faith by not allowing Puddingstone to liquidate collateral to satisfy the debt, reneged on a verbal agreement to lower the interest rate on the loan, and disseminated defendants\u2019 private financial information. <a href=\"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/#more-3310\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits. In the case of Atlantic Stewardship Bank v. Puddingstone Funding, LLC, (2013 WL 5777539) the New Jersey\u2019s Appellate Division held that the amount of the outstanding debt the defendants were required to re-pay [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[415],"tags":[37],"coauthors":[512],"class_list":["post-3310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miscellaneous","tag-new-jersey","miscellaneous_lawyer-kang-haggerty-fetbroyt-llc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No Application of Fair Market Credit by NJ Appellate Division<\/title>\n<meta name=\"description\" content=\"Fair Market Credit - The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No Application of Fair Market Credit by NJ Appellate Division\" \/>\n<meta property=\"og:description\" content=\"Fair Market Credit - The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/\" \/>\n<meta property=\"og:site_name\" content=\"Kang Haggerty News\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-18T18:11:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-23T22:10:40+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/localhost\/news\/wp-content\/uploads\/2017\/08\/6393702_l-300x216.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"216\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kang Haggerty LLC\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kang Haggerty LLC\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"No Application of Fair Market Credit by NJ Appellate Division","description":"Fair Market Credit - The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/","og_locale":"en_US","og_type":"article","og_title":"No Application of Fair Market Credit by NJ Appellate Division","og_description":"Fair Market Credit - The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits.","og_url":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/","og_site_name":"Kang Haggerty News","article_published_time":"2014-04-18T18:11:56+00:00","article_modified_time":"2020-09-23T22:10:40+00:00","og_image":[{"width":300,"height":216,"url":"http:\/\/localhost\/news\/wp-content\/uploads\/2017\/08\/6393702_l-300x216.jpg","type":"image\/jpeg"}],"author":"Kang Haggerty LLC","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kang Haggerty LLC","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/#article","isPartOf":{"@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/"},"author":{"name":"Kang Haggerty LLC","@id":"https:\/\/www.khflaw.com\/news\/#\/schema\/person\/1ffcd166c2a9e70e383f95b63c9fd501"},"headline":"No Application of Fair Market Credit by New Jersey Appellate Division","datePublished":"2014-04-18T18:11:56+00:00","dateModified":"2020-09-23T22:10:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/"},"wordCount":422,"image":{"@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/#primaryimage"},"thumbnailUrl":"https:\/\/www.khflaw.com\/news\/wp-content\/uploads\/2017\/08\/6393702_l-300x216.jpg","keywords":["New Jersey"],"articleSection":["Miscellaneous"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/","url":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/","name":"No Application of Fair Market Credit by NJ Appellate Division","isPartOf":{"@id":"https:\/\/www.khflaw.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/#primaryimage"},"image":{"@id":"https:\/\/www.khflaw.com\/news\/application-fair-market-credit-new-jersey-appellate-division\/#primaryimage"},"thumbnailUrl":"https:\/\/www.khflaw.com\/news\/wp-content\/uploads\/2017\/08\/6393702_l-300x216.jpg","datePublished":"2014-04-18T18:11:56+00:00","dateModified":"2020-09-23T22:10:40+00:00","author":{"@id":"https:\/\/www.khflaw.com\/news\/#\/schema\/person\/1ffcd166c2a9e70e383f95b63c9fd501"},"description":"Fair Market Credit - 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