Category Archives: Business & Corporate

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New Jersey LLC Law Deadline Looms

Posted in Business & Corporate

My colleagues Daniel J. Sheridan, Rachel Lilienthal Stark and I have collectively authored an important client alert about an upcoming law deadline that could impact all limited liability companies in the state of New Jersey. The New Jersey Revised Uniform Limited Liability Company Act (RULLCA) takes full effect on March 1, 2014 and it considerably changes many of the legal principles underlying the organization, governance and operation of limited liability companies.

If you know somebody that owns a limited liability company in the state of New Jersey, their business may be impacted by this new act and they should be directed to the full article here.

PA Superior Court Relaxes Formerly Strict Circumscription of Confession of Judgment Clauses

Posted in Business & Corporate

The Pennsylvania Superior Court recently relaxed the Pennsylvania Courts’ trend of scrupulously constraining the use of warrants of attorney, also known as “confession of judgment” clauses in non-consumer credit transactions. In Graystones Bank v. Grove Estates, LP., 2012 Pa.Super. 274 (2012), affirmed at 2013 Pa. LEXIS 2855 (Pa. 2013) a debtor made a Promissory Note in favor of the creditor, which contained a warrant of attorney. After some time, the debtor began to have trouble making payments under the Note. The creditor then required the debtor to establish an interest reserve and pledge additional real property as collateral, and to enter a “Change in Terms Agreement.” The Change in Terms Agreement did not itself include a warrant of attorney.

Pennsylvania Superior Court Rules on Venue for Confessed Judgments

Posted in Business & Corporate

Many commercial credit agreements contain Confession of Judgment or “Warrant of Attorney Clauses.” In general terms, a Warrant of Attorney permits a creditor to enter judgment against a debtor without first giving notice and an opportunity to defend the case against him. Usually, the debtor will first become aware that judgment has already been entered against him by receipt of a notice.

Starting a Minority, Women, Veteran or Service-Disabled Veteran Business Enterprise in Pennsylvania

Posted in Business & Corporate

Are you a minority, woman, veteran or service-disabled veteran starting or currently running a business in Pennsylvania? If so, your business may be eligible for classification as a Minority Business Enterprise (MBE), Women Business Enterprise (WBE), Veteran Business Enterprise (VBE), or Service-Disabled Veteran Business Enterprise (SDVBE).

What to Do After Receiving a Judgment From the Small Claims Court

Posted in Business & Corporate

“I have a judgment from the small claims court. Now what?”
One call that we receive quite often follows a lay person’s successful prosecution of a case in small claims Court – formally called either the Magisterial District Justice Courts or the Philadelphia Municipal Court. The caller will have organized all of the documents and witnesses, and made a convincing case before the Judge, and gotten a judgment against another person or business. Contrary to popular beliefs and expectations, the defendant isn’t required to write a check on the spot to satisfy the judgment.

Pennsylvania Senate Amends Procurement Code to Provide for Verification of Legal Employment Status

Posted in Business & Corporate, Employment, Real Estate

The Pennsylvania Senate approved legislation on Tuesday, May 24, 2011 that would require contractors and subcontractors to verify legal employment status for all employees working on public building projects. Senate Bill 637, which passed 47-7, makes use of the federal E-Verify system, operated by the Department of Homeland Security, mandatory to confirm that all employees are eligible to work in the U.S.