In a Superior (trial) Court case decided in June 2012, a Massachusetts bank was held to have violated Massachusetts General Laws chapter 93A, which provides for the recovery of double or triple damages in cases of unfair or deceptive trade practices. One standard frequently cited in disputes between commercial parties (compared to claims by consumers against businesses) for violation of chapter 93A is that “[t]he objectionable conduct must attain a level of rascality that would raise an eyebrow of someone inured to the rough and tumble of the world of commerce.” In the instant case, the trail court ruled that the bank tried to use a questionable claim of default to justify its efforts to have the borrower’s loans cleared off of its books. The case demonstrates the importance of bankers working closely with counsel in evaluating and implementing default scenarios in Massachusetts.
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read more »“United Multi Family Corporation has been a client of Lloyd Sanders and KSR for over twelve years. Through Lloyd’s guidance we have grown from a local real estate company to covering New England. Lloyd has assisted us with all our corporate filings, annual compliance and the drafting and review of business agreements and contracts. More importantly Lloyd has advised us through disputes and litigation common to the business using his even keeled common sense approach. Whenever necessary we have benefited from the expertise brought from Lloyd’s partners Marvin and Frank on title and real estate issues, and Jack on litigation. Lloyd and KSR has always been a trusted advisor who always looks out for our best interests.”
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