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NAT. HOUSING PARTNERSHIP v. MCAP I, L.P.

Nos. 03-CV-1080, 03-CV-1253, 05-CV-32 and 05-CV-62.

935 A.2d 300 (2007)

NATIONAL HOUSING PARTNERSHIP, Appellant/Cross-Appellee v. MUNICIPAL CAPITAL APPRECIATION PARTNERS I, L.P., Appellee/Cross-Appellant.

District of Columbia Court of Appeals.

Decided November 1, 2007.

Attorney(s) appearing for the Case

John Moustakas, Washington, DC, with whom Martin J. Flynn and Eric A. Baker, were on the brief, for appellant/cross-appellee.

Gordon A. Coffee, with whom Anne W. Stukes and Richard A. Hibey, Washington, DC, were on the brief, for appellee/cross-appellant.

Before RUIZ, REID and GLICKMAN, Associate Judges.

GLICKMAN, Associate Judge:

These appeals, arising under Maryland law, require us to delve into the meaning of an agreement furnishing security for the payment of a promissory note and the requirements of former Article 9, the Secured Transactions Article, of the Uniform Commercial Code. The parties' disputes began when National Housing Partnership ("NHP") defaulted on a $3.2 million note payment, leading Municipal Capital Appreciation Partners I, L.P. ("MCAP") to...

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