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PARKE BANCORP INC. v. 659 CHESTNUT LLC

No. 4, 2019.

217 A.3d 701 (2019)

PARKE BANCORP INC., d/b/a Parke Bank, Defendant Below, Appellant, v. 659 CHESTNUT LLC., Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: September 12, 2019.

Attorney(s) appearing for the Case

Don A. Beskrone, Esquire , Benjamin W. Keenan, Esquire , Ashby & Geddes, P.A., Wilmington, Delaware for Appellant Parke Bancorp Inc.

Kevin J. Mangan, Esquire , Womble Bond Dickinson (US) LLP, Wilmington, Delaware, for Appellee 659 Chestnut LLC.

Before STRINE, Chief Justice; SEITZ and TRAYNOR, Justices.

This case concerns a $3.375 million loan that Parke Bancorp ("Parke") made to 659 Chestnut LLC ("659 Chestnut") in 2016 to finance the construction of an office building in Newark, Delaware. 659 Chestnut pleaded a claim in the Superior Court for money damages in the amount of a 1% prepayment penalty it had paid under protest when...

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