4 unchanged sentences
Parke Bank, One Mechanic Street, et al, Superior Court of New Jersey, Law Division, Atlantic County, Docket No.
−Removed: ATL-L-2321-21.
+Added: ATLL-2321-21.
The Company is the successor to the interests of the developer of the Absecon Gardens Condominium project in Absecon NJ.
2 unchanged sentences
The matter is in discovery so it is difficult to determine whether that amount accurately reflects the claimed damages, or whether the Company is in any way culpable for the damages.
+Added: A Court ordered remediation is scheduled for June 2026.
At this time it is too early to predict whether an unfavorable outcome will result.
13 unchanged sentences
As to all of Mori Restaurant’s claims, the Bank defendants’ primary, but not exclusive, defense in this matter is that, pursuant to that certain Fee Owner Consent executed by and between Mori Restaurant and the Bank, in November 2014, the lease between VDC and Mori Restaurant was terminated as a matter of law and neither the Bank nor 320 Route 73 LLC have liability to Mori Restaurant under the lease or otherwise.
−Removed: The Bank believes this suit is without merit, denies any and all liability and intends to vigorously defend against this matter.
+Added: In August 2024, Parke Bank filed an amended complaint asserting claims against Mori for breach of the Assignment of Leases and default under the mortgage loan documents.
+Added: Mori sought summary judgement on, among other things, its claims for possession of the diner and against the Bank's affirmative claims.
+Added: The court determined that the Lease remained binding on 320 Route 73 LLC and that 320 Route 73 LLC was liable to Mori for rent under the Lease during its period of possession.
+Added: The court also ruled that Mori was entitled to repossess the diner.
+Added: In November 2025, Mori repossessed the diner.
+Added: The court did not determine damages and reserved all damages issues for trial, which is scheduled for June 2026.
+Added: The Bank denies liability beyond the court's rulings to date and will continue to vigorously defend this matter.
In the normal course of business, there are outstanding various contingent liabilities such as claims and legal action, which are not reflected in the financial statements.
2 unchanged sentences
Not applicable.
+Added: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: (a) Unregistered Sales of Equity Securities.
+Added: Not Applicable.
+Added: (b) Use of Proceeds.
+Added: Not Applicable.
+Added: DEFAULTS UPON SENIOR SECURITIES
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.