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Bankruptcy Law

PAUL MONGER, et al. v. PNC BANK, NATIONAL ASSOCIATION

Appellant, Sandra Monger (“Ms. Monger”) executed four commercial loan agreements with appellee PNC Bank, National Association (“PNC”) to assist with her businesses. Appellant, Paul Monger (“Mr. Monger”), executed a Commercial Guaranty agreement (“the Guaranty”) with PNC, making him the guarantor of all Ms. Monger’s indebtedness to PNC. Ms. Monger defaulted on all four loans, prompting PNC to file a complaint for confessed judgment. Thereafter, the Circuit Court for Calvert County entered the confessed judgment against appellants totaling $489,057.31. Appellants filed motions to vacate, modify, or open the confessed judgment to assert tortious counterclaims against PNC. The circuit court denied the motions. Appellants noted separate appeals and presented several questions for our consideration, which we have consolidated and rephrased for clarity: I. Whether the trial court erred when it failed to open, modify or vacate the confessed judgment? For the reasons that follow, we shall affirm in part and reverse in part the judgment of the trial court.

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