Philadelphia Banking Litigation Lawyer

Banks and financial institutions are heavily regulated by state and federal law. Due to the complexities involved, small businesses and entrepreneurs are best served when they hire attorneys well-versed in banking laws and with experience dealing with banks. Many adverse events that businesses have encountered with their lenders and financial institutions could have been avoided, or at least mitigated, had they first consulted an experienced banking or lender liability attorney. 

Representative Matters of Our Philadelphia Banking Lawyers and Lender Liability Lawyers

Banks and other financial institutions are often relentless in pursuing borrowers, particularly when market conditions and other circumstances create friction. We represent individuals and businesses in their dealings with banks and lenders, helping our clients manage contentious disputes where an adverse outcome could prove devastating to their business.

Below is a list of recent, representative matters:

• Achieved a $1.5 million verdict in favor of a developer against an established bank for refusal to honor its loan commitment, despite the bank’s denial that the borrower met the conditions of a commitment letter.
• Defended a local businessman against a bank attempting to enforce a multimillion-dollar repayment of a loan, successfully pursuing our client’s claim that the bank’s conduct interfered with our client’s business.
• Negotiated a substantial settlement against a large local bank on behalf of a developer by successfully arguing that the bank improperly categorized construction loan proceeds.
• Defended against a bank’s attempt to enforce a multimillion-dollar loan repayment based upon our client’s claim that the bank damaged its business during the bank’s loan-collection process.

Lender Liability

Loan agreements require lenders to fulfill their agreed-upon obligations and act in good faith. Yet oftentimes, lenders overreach and abuse their position. We successfully handle matters including breach of contract, tortious interference, fraudulent misrepresentation, and the opening and striking of confessed judgment.

Our firm represents institutional and private borrowers in negotiations, workouts, and litigations against banks in courts at the state and federal levels, as well as in arbitration and mediation. Below is a list of representative lender liability matters:

• Obtained a multi-million dollar settlement against a major financial institution for failing to provide the financing required by the loan agreement and commitment letters.
• Obtained an injunction against a bank, barring it from filing a confession of judgment against the borrower, protecting not only money but also the borrower’s credit status and reputation.
• Won the opening of the judgment entered against our clients by major financial institutions.
• Caused a judgment confessed to be stricken and rendered a nullity.
• Obtained a forbearance agreement from a regional financial institution and vacated judgment after filing a petition to strike and open judgment entered by confession.
• Achieved a $1.5 million verdict in favor of a developer against an established bank for refusal to honor its loan commitment, despite the bank’s denial that the borrower met the conditions of a commitment letter.
• Defended a local businessman against a bank attempting to enforce a multimillion-dollar loan repayment, successfully pursuing our client’s claim that the bank’s conduct interfered with our client’s business.
• Negotiated a substantial settlement against a large local bank on behalf of a developer by successfully arguing that the bank improperly categorized construction loan proceeds.
• Defended against a bank’s attempt to enforce a multimillion-dollar loan repayment based upon our client’s claim that the bank damaged its business during the bank’s loan-collection process.

Hiring a Philadelphia Banking Attorney and/or Philadelphia Lender Liability Attorney

The Philadelphia banking and lender liability attorneys at Abramson & Abramson, LLC are familiar with the manner in which banks and financial institutions conduct themselves, as well as the legal obligations of lenders and borrowers under the terms of their contracts and the law. Our understanding of these concepts, coupled with our experience, dedication, and goal-oriented approach, permits us to navigate our clients’ unique situations to achieve the most favorable outcomes.  Our past successes make us the first call for our past clients when confronted with complicated banking and lending issues.

Should your business require legal advice, counsel, or assistance with any banking or potential lender liability matter, our experienced attorneys stand ready to asist. Contact The Law Offices of Abramson & Abramson, LLC at 610-664-5700 or dabramson@theabramsonfirm.com

FAQs about Bank Attorney Philadelphia

Q1. How Can a Philadelphia Banking or Lender Liability Lawyer Help My Business?

As mentioned, a Philadelphia banking attorney and/or Philadelphia Lender Liability attorney represents businesses in their dealings and matters with banks and financial institutions, advising and counseling their clients through the various complexities involved in banking and lending transactions.  A Philadelphia banking lawyer or Philadelphia lender liability lawyer can also protect your rights when a bank or financial institution seeks to declare a default, foreclose, or otherwise exercise its remedies pursuant to loan documents and the law.  

Q2. When Should I Reach Out to a Philadelphia Banking Attorney or Philadelphia Lender Liability Attorney?

You should contact a Philadelphia banking attorney or Philadelphia Lender Liability Attorney as soon as you receive a notice of default of a loan, as well as the earliest moment you believe your bank or financial institutions may be abusing its position and violating your loan agreement and/or the rights of your business. Before contacting your Philadelphia banking lawyer or Philadelphia lender liability lawyer, make sure to prepare a chronology and gather all loan documents and correspondence relevant to your claim.   

An experienced business litigation attorney can explain your rights based upon the circumstances of your unique matter and explain the various business and legal options available to you, including seeking redress against the bank in court. 

Q3. What Is the Cost of Hiring a Banking Attorney or Lender Liability Attorney in Philadelphia?

The cost of hiring an attorney widely varies, with factors including experience, location, firm size, and specific expertise.  Most charge by the hour, with rates ranging from $250/hour to $650/hour+.  Certain banking and lender liability attorneys will charge a flat fee for a distinct matter, while others may agree to accept a percentage of the amount of money they recover for their client, referred to as a contingency fee.  Most Philadelphia banking and lender liability attorneys will only accept a contingency fee agreement where there is a large amount of money in controversy and where the client pays some up-front fee and/or agrees to pay all of the expenses of the case. So as not to spent time unnecessarily, it is important to discuss the fee aspect of a case early in the initial consultation with the banking lawyer. 

If you have a banking litigation matter or lender liability matter, our experienced attorneys stand ready to assist you.