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DOCKET NO.: AAN-CV20-6040118-S SUPERIOR COURT
ALAN FISCHER, ET AL. J.D. OF ANSONIA-MILFORD
VS. AT MILFORD
PEOPLE’S UNITED BANK, N.A., ET AL. APRIL 30, 2024
AFFIDAVIT OF ATTORNEY’S FEES
I, James T. Shearin, being duly sworn, hereby depose and says as follows:
1. lam over the age of eighteen years and believe in the obligations of an
oath.
2. I am an attorney at law, licensed to practice in the State of Connecticut since
1986.
3. lam employed by the law firm of Pullman & Comley, LLC (“Pullman &
Comley”) where I am a senior litigation partner. I served as the Firm’s Chairman for nine
years and chaired the Firm’s Litigation Department for fifteen years.
4. ’ It is my opinion that an experienced litigation partner was required for the
challenging, extensive, high dollar litigation described below.
5. Beginning in September of 2020, I was engaged to represent then People’s
United Bank, N.A. (“People’s United” or “Bank”), with respect to a dispute between 1730
State Street Limited Partnership (“1730 State Street”) and the Bank, involving a
contemplated refinance of 1730 State Street’s mortgage.
6. The Bank was a longtime client of Pullman & Comley’s and frequently hired
us to defend litigation brought against the Bank.
7. The genesis of the dispute was the inability of the general partner of 1730
State’s Street, AJO Management, LLC (“AJC”) to agree upon an acceptable limited
liability company borrower’s resolution, such that 1730 State Street could refinance its
mortgage. As is customary in loan transactions involving limited liability companies, the
Bank required such a resolution to ensure that the members were in agreement to enter
into the loan.
8. Prior to my involvement, the limited partners of AJC, Messrs. Alan Fischer,
Jefferson Scinto and Christian Scinto, had exchanged draft borrowing resolutions, but
could not agree upon the language. The bone of contention was whether the resolution
would recognize any authority on behalf of Mr. Fischer to direct the operations of AJC.
The Bank took no position on the issues of who managed AJC, it simply wanted a
resolution signed by all three members.
9. When the members were not able to agree, the refinance was aborted.
10. When I became involved, I first suggested that the three members of AJC
simply sign a resolution authorizing the refinancing without any attribution of control and
that said resolution be protected under Connecticut Rule of Evidence 4-8 so that no party
was waiving any rights and the document could not be referred to in the future nor in
conjunction with any of the suits that were then pending between the AJC members or
family members1. That was acceptable to the Scintos, but unacceptable to Mr. Fischer,
unless the Bank paid 1730 State Street $1,500,000.00. The Bank declined that demand.
1 Fischer v. Southport Contracting, Inc., etal, FT-CV-19-6088296-S ('“296 Action"), Fischer v. Scinto, et
al, FBT-CV-20-6100675-S (‘“675 Action”), 1730 State Street Associates, L.P, v. Southport Contracting,
Inc., et al, FBT-CV-19-6107491-S ('“491 Action”) (collectively “Pending Actions”).
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11. Mr. Fischer then commenced the first of two lender-liability suits against
People’s United, and two of its loan officers, Virgilio Lopez and Kenneth Nuzzolo
(collectively “Bank Defendants”) (“First Suit”). The complaint was filed in the names of
Mr. Fischer, 1730 State Street, and Fischer Real Estate, Inc. In the first three counts, the
combined Plaintiffs claimed the Bank Defendants had breached a contract to refinance
1730 State Street’s debt, engaged in bad faith, and violated CUTPA. A copy of the
Complaint is attached as Exhibit A.
12. During the course of the First Suit, Mr. Fischer filed two rounds of discovery
requests and requests for admission, discovery which the Defendants successfully
opposed on the grounds, inter alia, of their pending motion to dismiss (discussed below),
but only after having to file a motion to stay discovery and having to make merit-based
objections to the discovery.
13. After extensive research, the Bank Defendants moved to dismiss the case
on the basis that the Plaintiffs had no standing to pursue their claims. Before that motion
was heard, the Plaintiffs amended their complaint where they expanded the allegations
in Count One, repeated Counts Two and Three, and added a tortious interference with
business expectancies claim for Mr. Fischer and 1730 State Street and negligent infliction
of emotional, distress claim as to Mr. Fischer. A copy of the Amended Complaint is
attached as Exhibit B. After briefing and argument on a renewed motion to dismiss, the
Court dismissed the first three counts of the complaint made by 1730 State Street against
all Defendants.
14. The First Suit was then appealed to the Appellate Court. After extensive
briefing there and argument, the Court sustained the Trial Court’s ruling. See Fischer, et
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al v. People’s United Bank, NA, et al, 216 Conn. App. 426 (2022). Mr. Fischer then
pursued a writ of certiorari which the Bank Defendants successfully opposed.
15. The First Suit was then remanded to the Superior Court for resolution of the
two remaining claims, Counts Four and Five.
16. On remand, the Bank Defendants moved to strike both counts. Again, after
extensive briefing and argument, both Counts were stricken. No appeal was taken. A
copy of the Court Index for the First Suit is attached as Exhibit C.
17. The First Suit was pending for nearly three years, from September 2020 to
August 2023. Before and while the First Suit was pending, People’s United and its officers
were dragged into the Pending Actions which were being handled in a consolidated
fashion during most of the pretrial proceedings. See e.g., ‘296 Action at July 28, 2021
Order.
18. From the outset, Mr. Fischer sought third-party written and deposition
discovery from the Bank and its officers, and third-party discovery from the attorney hired
by the Bank, Attorney Bradd Robbins, to handle the aborted refinance. The Bank
Defendants argued, inter alia, this was a back door attempt to pursue the stayed discovery
being sought in the First Suit and otherwise involved these parties in controversial issues
in which they had no interest, such as whether the Parnoff law firm should be disgualified
from acting as counsel to 1730 State Street or AJC or both.
19. The Bank Defendants filed merit-based objections to the discovery and
repeated motions to guash for a protective order to the Fischer parties repeated
subpoenas, all of which reguired significant time and effort. See e.g., ‘296 Action at Dkt.
#s 187; 193 and 193.10; 209 and 209.10, and '491 Action at Dkt. # 186. Further, the Bank
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Defendants were required to attend multiple hearings at which their testimony was either
sought or their interests were implicated. See e.g., '491 Action, Notice dated December
10, 2021. Throughout the proceedings in the Pending Actions, particularly as it relates to
the motions to disqualify, there were scores of pleadings filed that the Bank Defendants
had to review. In those pleadings and multiple hearings, the Bank was targeted by Mr.
Fischer either arguing his lender-liability claims or arguing the Bank was allied with the
Scinto defendants (which was untrue). See e.g., ‘675 Action at Dkt. #s 217 and 217.50.
Of necessity, the Bank was required to review what was being said about it by the Fischer
parties, and the Scinto parties in their objections. Id. at Dkt. # 261.
20. In January 2021, People’s United Bank filed a foreclosure action against
1730 State Street. In response, Mr. Fischer, purportedly acting on behalf of 1730 State
Street, filed the same lender-liability claims he had filed in the First Suit. The Bank’s
officers, Mr. Lopez and closing attorney, Mr. Robbins, were then dragged into that case
by Mr. Fischer pursuing the same claims and theories and filing many of the same
pleadings as were filed in the Pending Cases. Of necessity, the Bank was forced to
defend its officers and closing attorney as it had in the other cases, at still more time and
expense.
21. Mr. Fischer filed a second lender-liability action against the Bank
Defendants in January of 2023, purportedly as a derivative action brought in the name of
1730 State Street through its general partner, AJO Management, through its member,
Alan Fischer (“Second Suit’’). Mr. Fischer re-asserted the very same breach of contract,
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bad faith and CUTPA claims had been alleged - and dismissed or stricken - in the First
Suit.2 A copy of the Second Suit Complaint is attached hereto as Exhibit D.
22. The Second Suit complaint was confusing. The summons was filed in the
name of Alan Fischer even though the action was purportedly brought on behalf of 1730
State Street, and it was unclear as to what derivative angle Mr. Fischer was pursuing.
23. The Bank Defendants filed a motion to dismiss, which was extensive, thirty-
five pages in length, and then a reply brief, challenging Mr. Fischer’s standing. After full
briefing and argument, the motion was granted. Undeterred, Mr. Fischer has since filed
an appeal, which necessitated the Bank Defendants appearing at a pre-appellate
conference and will now require additional briefing on appeal to vindicate the Trial Court’s
decision. A copy of the Second Suit Court Index is attached as Exhibit E.
24. The amount of time the Bank and its officers have incurred has been
extensive, necessitated entirely because of the inability of 1730 State Street and, in turn,
AJC to manage its officers in such a way as to not permit its lender to be dragged into a
series of suits, and because of the relentless efforts undertaken by the Fischer parties to
pursue unfounded claims against the Bank Defendants in the lender-liability suits, the
Pending Action and the foreclosure suit. This is particularly unfortunate given the Bank’s
offer to resolve the issue with a carefully written “Borrower’s Resolution.”
25. It is Pullman & Comley’s regular course of business to create and maintain
contemporaneous billing records concerning work it does for its clients and to retain
copies of the bills it sends to its clients.
2 M&T Bank Corp, acquired People’s United Bank, N.A. and it then became the Defendant in the Second
Suit along with Messrs. Lopez and Nuzzolo. It is still referred to as “Bank”
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26. Pullman & Comley maintains such records for the litigation it has handled
in this matter.
27. Pullman & Comley, LLC’s invoices are vetted by the Bank’s in-house
counsel and approved for payment only after a thorough review. There were two file
numbers: 295.3 and 40665.1. The second number was set up later by M&T Bank for
internal administrative reasons and largely tracks the time in the Second Suit.
28. Copies of the Bank’s invoices for time and expenses through February 2024
are attached as Exhibit F, redacted where necessary to protect applicable privileges. The
total sum incurred for time and expenses through February 28, 2024, is $376,880.76,
allocated per billing professional3 as follows:4
As to 295.3:
Name Hours Average Rate Total Fees
James T. Shearin 381.50 $586.62 $223,794.69
Marcy Tench Stovall 27.80 $400.00 $11,120.00
Dana Hrelic 41.30 $401.21 $16,570.00
Potoula Tournas 97.78 $279.36 $27,316.11
Julie V. Pinette 106.69 $270.01 $28,806.96
David Santiago 64.40 $292.25 $18,821.00
TOTAL: $326,428.76
3 Only those attorneys with significant time in the file have been included in this sum.
41 have attached as Exhibit G firm biographies for those professionals who are still with the firm -
Attorneys Shearin, Stovall and Hrelic. No biography for Mr. Santiago is provided as he was a paralegal.
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As to 40665.1:
Name Hours Average Rate Total Fees
James T. Shearin 31.90 $603.51 $19,252.00
Marcy Tench Stovall 78.00 $400.00 $31,200.00
TOTAL; $50,452.00
Dated at Bridgeport, Connecticut this day of April, 2024.
es T. Shearin
Subscribed and sworn to before me this'§9 day of April, 2024.
Notary Public
My Commission Expires:’
ALISON C. HENRY '
Notary Public, State of Connecticut
My Commission Expires March 31,2028
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6 CERTIFICATION OF SERVICE
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I hereby certify that a copy of the above was electronically delivered on May 1, 2024, to all
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EXHIBIT A
RETURN DATE: OCTOBER 27, 2020 SUPERIOR COURT
ALAN FISCHER, ET AL
JUDICIAL DISTRICT OF
v. NEW HAVEN AT MILFORD
PEOPLE’S BANK UNITED N.A., ET AL August 27, 2020
COMPLAINT
FIRST COUNT: (breach of contract)
1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut.
2. Plaintiff Fischer Real Estate, Inc., is a Connecticut Corporation with a business address of 236
Boston Post Road, Orange, Connecticut 06477 which is owned and operated by the Plaintiff
Alan Fischer.
3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730
Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236
Boston Post Road, Orange, Connecticut 06477.
4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United
Financial, Inc. and is a diversified financial services company with an office and principal place
of business located at 850 Main Street Bridgeport, CT 06604.
5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President at Peoples United
Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604.
6. Defendant Virgilio Lopez Jr. is an individual and Vice President at Peoples United Bank
employed at People’s office located at 850 Main Street Bridgeport, CT 06604.
7. AJC Management LLC (“AJC”):
(a) is the general partner of 1730;
(b) is charged with the managing the operation of 1730; and
(c) can only act as manager of 1730 through the unanimous agreement of all members.
8. Under an agreement of its members, AJC delegated its responsibility for the operation of AJC
and the Property to the Plaintiff Alan Fischer pursuant to the agreement between the members
of AJC.
9. From on or about 1998 Alan Fischer has continually managed the operation of 1730's
Property including 1730's use of the Property to secure mortgage loans from People’s.
10. At all times relevant hereto, the Property:
(a) had a sales and appraised value which exceeded the amount of People’s loan and
mortgage security
(b) enjoys a current Loan to Value Ratio of 34 percent (34%);
(c) continually had rental income which produced a profit after paying all mortgage and
other expenses associated with it.
11. On or about December 2019 Fischer began negotiation with Defendant Lopez on the terms for
People’s refinancing the current 2010 mortgage loan for which Payment was due April 1,
2020.
Page 2 of 7
12. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its
Mortgage Commitment for a second refinance loan (the “New Loan”) to payoff the current
2010 mortgage loan which offer Fischer accepted, signed and returned to People’s together
with a $5,000.00 acceptance payment. A copy of People’s Mortgage Commitment and signed
acceptance is attached hereto as Exhibit 1.
13. People’s July 28, 2020 Mortgage Commitment offer confirmed in sections entitled “Purpose,”
“Term/Maturity,” and “Interest Rate” that:
(a) New Loan proceeds were being used to “retired [the 2010] maturing [sic] mortgage;”
(b) two loans were approved with the first loan (herein referred to as the “New Loan”) to be
used to “retire maturing [sic] mortgage” and the second loan to “be used for
environmental remediation repairs” and
(c) the first loan (herein referred to as the “New Loan”) bearing interest at “Variable Rate.
People's United Bank Prime Rate+ 1%” and the second loan bearing interest at
“Variable Rate. Peoples United Bank Prime Rate + 2%.”
14. Peoples current “Variable Rate. Peoples United Bank Prim e Rate” offered to 1730 is 4.25%. A
copy of the proposed terms of People’s offered New Loan is attached hereto as Exhibit 2.
15. Thereafter People’s New Loan attorneys Willinger, Willinger & Bucci, P.C. forwarded People’s
closing Checklist of documents needed to close and set up the New Loan to pay off People’s
matured mortgage loan. A copy of People’s Checklist is attached hereto as Exhibit 3.
16. People’s current 2010 mortgage loan bore interest at the fixed interest rate of 6.50% per
annum amortized over 25 years, and includes an additional 5% penalty in the event of default.
17. People’s current 2010 mortgage loan provided that “this Note shall bear interest at the annual
rate (the "Default Rate") of five percent (5%) per annum above the Interest Rate from and
after such default until paid in full.”
Page 3 of 7
18. On or about August 4, 2020 all documents required by People’s Checklist for the New Loan:
(a) were provided by the Plaintiff 1730 through its Manager Alan Fischer;
(b) were provided without any material contract or agreement being in default of the terms
of People’s Mortgage Commitment offer accepted by 1730;
(c) were accepted by People’s refinance attorneys thereby completing the agreement
between People’s and 1730.
19. On or about August 4, 2020 People’s New Loan attorneys were paid in full by 1730 for all
closing services to complete the New Loan, including paying:
(a) “Interest due on [the matured 2010] loan being paid off Through 8/20/20" in the amount
of $5,769.60;
(b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account;
(c) a payment of $185 to set up the New Loan tax escrow account.
A copy of People’s New Loan attorney’s statement is attached hereto as Exhibit 4.
20. On August 25, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo,
notified Fischer that People’s rescinded its Mortgage Commitment to 1730 for the New Loan.
A copy of People’s rescind notice is attached hereto as Exhibit 5.
21. On August 26, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo,
declared 1730 to be in default of People’s current 2010 mortgage loan which had been due
and payable April 1, 2020. A copy of People’s rescind notice is attached hereto as Exhibit 5.
22. People’s declaring the current 2010 mortgage loan to be in default raised 1730's interest rate
from the New Loan rate of 4.25% to a default rate of 11.5% raising 1730's payments to
People’s of $9,061.72 a month to $19,312.91 a month.
23. As a result of People’s aforesaid rescinding of the accepted commitment offer and People’s
subsequent declaring 1730 to be in default of its current 2010 mortgage loan the Plaintiffs
Page 4 of 7
have suffered financial damages and losses including additional closing attorney’s fee and the
devaluation of their interest in the Property.
SECOND COUNT: (bad faith)
1. Paragraphs 1 through 22 of the First Count are incorporated herein and made
paragraphs 1 through 22 of this count.
23. After Peoples had received signed resolutions from all three of AJC’s members, the
Defendants Lopez and Nuzzolo manufactured the false and baseless purported cause in
People’ August 24, 2020 to rescind the accepted Mortgage Commitment offer stating that:
”...you are not in a position to deliver a resolution from the general partner of 1730 State
Street Limited Partnership, AJC Management, LLC, in form and content acceptable to
the Bank. Unfortunately, without an acceptable borrowing authorization resolution the
loan facility referenced in the Commitment Letter cannot be closed. Accordingly, the
July 28, 2020, Commitment Letter is hereby rescinded.”
24. The Defendants acted in bad faith and in breach of the implied duty of good faith regarding its
accepted Mortgage Commitment offer for the New Loan by:
(a) using a manufactured, false, fraudulent and baseless misrepresentation in their August
24, 2020 letter to rescind its Mortgage Commitment offer accepted by 1730;
(b) using the rescinded Mortgage Commitment to declare 1730's March 22, 2010 current
mortgage loan note due April 1, 2020 to be in a def ault on August 26, 2020;
(c) refusing to honor its accepte Mortgage Commitment offer;
(d) engaging a purported third party to make false and baseless claims to justify their
conduct and actions;
(e) abusing their position and violating banking standards and rules for the purpose of
taking unfair advantage of 1730 and raise 1730's interest rate for People’s greater
profit.
25. The Defendants engaged in willful misconduct, consciously, recklessly and/or with gross
negligence and in bad faith, designed to mislead or deceive for the dishonest, interested
Page 5 of 7
and/or sinister purpose of increasing the interest on 1730's monthly mortgage payments from
the 4.25%of the committed New Loan to the 11.5% default rate of the current 2010 mortgage
loan and causing 1730 to payments to People's to increase from $9,061 .72 a month to
$19,312 .91 a month.
26. As a result of the Defendants aforesaid conduct the Plaintiffs have suffered financial damages
and losses including additional closing attorney's fee and the devaluation of their interest in
the Property.
THIRD COUNT: (CUTPA)
1. Paragraphs 1 through 25 of the Second Count are incorporated herein and made
paragraphs 1 through 25 of this count.
26. At all times herein relevant the Defendant were "persons" within the meaning of C.G .S. §42-
11 Oa(3).
27. At all times herein relevant the Defendant were engaged in commerce within the meaning of
C.G.S. §42-11 O(a)(4 ).
28. As a result of the Defendants aforesaid conduct, the Plaintiffs have been financially damaged
and injured and may suffer continuing financially damaged in the future.
29. The Defendants' aforesaid conduct constitutes a violation of Connecticut's Unfair Trade
Practices Act, C.G.S. §42-110a, etseq.
THE
LAURENCE V. PAR I
LAURENCE V. PAR , P.C ., 438546
1566 Park Avenue, Bridgeport, CT 06604
Ph./Fax 203-336-1861 Emaillvparnoff@gmail.com
Page 6 of 7
RETURN DATE: OCTOBER 27,2020 SUPERIOR COURT
ALAN FISCHER, ET AL
JUDICIAL DISTRICT OF
v. NEW HAVEN AT MILFORD
PEOPLE'S BANK UNITED N.A., ET AL August27,2020
WHEREFORE, THE PLAINTIFF CLAIMS
(a) Monetary damages and the amount, legal interest, or property in demand is fifteen
thousand dollars or more, exclusive of interest and costs.
(b) Compensatory damages, including benefits, special, and general damages according to
proof;
(c) Punitive damages according to common law;
(d) An order temporarily and permanently enjoining the Defendant from the continuing
business practices in violation of C.G.S. §42-100(g);
(e) Attorney's fees pursuant to C.G.S. §42-110(b); and
(f) Interest on losses.
LAURENCE V. PA F, Jr.
LAURENCE V. PARNOFF, P.C., 438546
1566 Park Avenue, Bridgeport, CT 06604
Phone/Fax: 203-336-1861
E-mail: LVPARNOFF@GMAIL.COM
Page 7 of 7
EXHIBIT B
NO.: AAN-CV-20-6040118-S SUPERIOR COURT
ALAN FISCHER, ET AL
JUDICIAL DISTRICT OF
v. NEW HAVEN AT MILFORD
PEOPLE’S BANK UNITED N.A., ET AL November 26, 2020
AMENDED COMPLAINT
P.B. § 10-59
FIRST COUNT: (breach of contract)
1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut and a licenced real
estate broker.
2. Plaintiff Fischer Real Estate, Inc. is a Connecticut Corporation with a business address of 236
Boston Post Road, Orange, Connecticut 06477 owned and operated by the Plaintiff Alan
Fischer.
3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730
Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236
Boston Post Road, Orange, Connecticut 06477.
4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United
Financial, Inc. and is a diversified financial services company whose business included the
lending of money to borrowers to invest in real estate and with an office and principal place of
business located at 850 Main Street Bridgeport, CT 06604.
5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President at Peoples United
Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604.
6. Defendant Virgilio Lopez Jr. is an individual and Vice President at Peoples United Bank
employed at People’s office located at 850 Main Street Bridgeport, CT 06604.
7. AJC Management, LLC (“AJC”):
(a) is the general partner of 1730;
(b) is charged with managing the operation of 1730; and
(c) can only act as manager of 1730 through the unanimous agreement of all members.
8. Under an agreement of its members, AJC delegated its responsibility for the operation of AJC
and the Property to the Plaintiff Alan Fischer pursuant to the agreement between the members
of AJC.
9. From on or about 1998 Alan Fischer has continually managed the operation of 1730's
Property which management included 1730's use of the Property to secure mortgage loans
from People’s in 1998, 2010 and 2020.
10. At all times relevant hereto, the Property:
(a) had a sales and appraised value which exceeded the amount of People’s loan and
mortgage security
(b) enjoys a current Loan to Value Ratio of 34 percent (34%);
(c) continually had rental income which produced a profit after paying all mortgage and
other expenses associated with the Property.
Page 2 of 14
11. On or about December 2019 Fischer began negotiating with Defendant Lopez the terms for
People’s refinancing of the 2010 mortgage loan which 1730's Mortgage Note, signed by
Fischer, had a maturity date of April 1, 2020.
12. During Fischer’s negotiations, People’s was provided with information regarding:
(a) a pending eviction action by 1730 and lawsuits by a limited partner of 1730 which
lawsuits involved Fischer, Fischer Real Estate, Inc. and Jefferson Scinto who is a
member of AJC and who repudiated his prior agreement to pay accruing amounts due
for use an occupancy of the Property and who obtained the support of his wife, a
partner in 1730, and his son who is both a partner in 1730 and a member of AJC;
(b) the 1730 State Street Limited Partnership Agreement; and
(c) the AJC Management Agreement.
13. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its
Mortgage Commitment for a second refinance loan (the “New Loan”) which offer Fischer
accepted, signed and returned to People’s together with a $5,000.00 acceptance payment. A
copy of People’s Mortgage Commitment and signed acceptance is attached hereto as Exhibit
1 (See pg. 15).
14. People’s July 28, 2020 Mortgage Commitment offer confirmed in the sections entitled
“Purpose,” “Term/Maturity,” and “Interest Rate” that:
(a) two loans were approved, with the first loan (herein referred to as the “New Loan”) to be
used to “. . . retire [the 2010] maturing mortgage . . .” and the second loan to “be used
for environmental remediation repairs”; and
(b) the New Loan bearing interest at “Variable Rate. People's United Bank Prime Rate+
1%” and the second loan bearing interest at “Variable Rate. Peoples United Bank
Prime Rate + 2%.”
Page 3 of 14
15. People’s New Loan terms were stated in the June 11, 2020 letter to Fischer f rom Lopez. A
copy of the proposed terms of People’s offered New Loan is attached hereto as Exhibit 2
(See pg. 21).
16. Both the Mortgage Commitment and the Lopez letter recognized the implied contractual duty
of good faith and fair dealing applicable to People’s Mortgage Commitment by their reference
to the “good faith” deposit required from 1730 for the Mortgage Commitment contract.
17. Thereafter, People’s New Loan attorneys Willinger, Willinger & Bucci, P.C. forwarded People’s
closing Checklist of documents needed to close and set up the New Loan to retire People’s
2010 mortgage loan to 1730. A copy of People’s Checklist is attached hereto as Exhibit 3
(See pg. 26).
18. People’s 2010 mortgage loan bore interest at the fixed interest rate of 6.50% per annum
amortized over 25 years, and includes an additional 5% penalty in the event of default.
19. People’s 2010 mortgage loan provided that “this Note shall bear interest at the annual rate
(the "Default Rate") of five percent (5%) per annum above the Interest Rate from and after
such default until paid in full.”
20. On or before August 20, 2020 all documents required by People’s Checklist for the New Loan:
(a) were provided by the Plaintiff 1730 through its Manager Alan Fischer;
(b) were provided without any material contract or agreement being in default of the terms
of People’s Mortgage Commitment offer accepted by 1730;
(c) were accepted by People’s refinance attorneys thereby completing the agreement
between People’s and 1730.
21. On or before August 20, 2020 People’s New Loan attorneys were paid in full by 1730 for all
closing services to complete the New Loan, including paying:
Page 4 of 14
(a) “Interest due on [the matured 2010] loan being paid off Through 8/20/20" in the amount
of $5,769.60;
(b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account;
(c) a payment of $185 to set up the New Loan tax escrow account.
A copy of People’s New Loan attorney’s statement is attached hereto as Exhibit 4 (See pg. 29).
22. On August 24, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo,
notified Fischer that “you are not in a position to deliver a resolution from the general partner
of 1730 State Street Limited Partnership, AJC Management, LLC, in form and content
acceptable to the Bank” and that “Accordingly, the July 28, 2020, Commitment Letter is hereby
rescinded.” A copy of People’s rescind notice is attached hereto as Exhibit 5 (See pg. 32).
23. On August 26, 2020 People’s attorneys Willinger, Willinger & Bucci, P.C. declared the 2010
Mortgage of 1730 to People’s to be in default stating that:
“The Loan Documents are in default due to the failure of the Borrower to pay all outstanding
principal and interest due to the Bank pursuant to the Loan Documents upon the extended
maturity date of July 31, 2020. ... Additionally, the Bank has imposed a legal hold against
the Borrower's account with the Bank in the amount of $6,300.00 regarding the Bank's legal
fees and expenses and has debited the Borrower's account by $1,006.90 to pay the Bank's
outstanding closing fees incurred in connection with the proposed refinancing of the
Borrower's obligations to the Bank, which refinancing was unable to be completed due to
the failure of the principals of the Borrower's general partner to execute an acceptable loan
authorization resolution.” A copy of People’s default notice is attached hereto as Exhibit
6 (See pg. 34).
Page 5 of 14
24. On November 17, 2020 People’s attorneys Updike, Kelly & Spellacy, P.C. declared the 2010
Mortgage of 1730 to People’s to be in default formally notifying 1730 that:
(a) “. . . the ‘Loan Documents’ are in default. The Note has matured and payment is
past due. Obligors have failed to timely pay all payments due under the Loan
Documents . . .” A copy of People’s default notice is attached hereto as Exhibit
7 (See pg. 37).
25. Updike, Kelly & Spellacy, P.C.:
(a) assiduously avoided reference to 1730's purported failure to provide an acceptable loan
authorization resolution in the November 17, 2020 letter; and
(b) failed to respond to questions raised regarding the true, complete and actual basis for
People’s continuing failure to honor its Mortgage Commitment.
26. People’s rescinding the Mortgage Commitment for which 1730 had paid was followed by
People’s claim that the 2010 mortgage loan was in default and resulted in People’s declaration
that 1730's interest rate increased from the committed New Loan rate of 4.25% to the 2010
mortgage loan default rate of 11.5%, thereby raising 1730's payments and People’s income
from $9,061.72 a month to $19,312.91 a month.
27. The Plaintiffs have suffered financial damages and losses including additional closing
attorney’s fee and the devaluation of their interest in the Property as a result of the aforesaid
conduct of Peoples, the false statement of its representatives and employees; the rescinding
of the accepted Mortgage Commitment offer; and the subsequent multiple declaring the 1730
mortgage to be in default of its 2010 mortgage loan.
Page 6 of 14
SECOND COUNT: (bad faith)
1. Paragraphs 1 through 25 of the First Count are incorporated herein and made
paragraphs 1 through 25 of this count.
28. Peoples had received signed resolutions from Fischer, the member appointed by AJC to
manage 170 and from the individual members of AJC.
29. Nevertheless, in People’s August 24, 2020 letter, the Defendants Lopez and Nuzzolo
manufactured the false and baseless purported cause to rescind the accepted and paid f or
Mortgage Commitment offer stating that: “. . . you are not in a position to deliver a resolution
from the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in
form and content acceptable to the Bank.”
30. All Defendants acted in bad faith and in breach of the implied duty of good faith regarding its
accepted Mortgage Commitment offer for the New Loan by:
(a) using a manufactured, false, fraudulent and baseless misrepresentation in their August
24, 2020 letter to rescind its Mortgage Commitment offer accepted by 1730;
(b) using the rescinded Mortgage Commitment to declare 1730's March 22, 2010 current
mortgage loan note due April 1, 2020 to be in a def ault on August 26, 2020;
(c) refusing to honor its accepted Mortgage Commitment offer for which consideration was
paid;
(d) engaging a purported third party to:
(i) make false and baseless claims to justify their conduct and actions; and
(ii) prevailing on the third party to alter judicial admissions to support their wrongful
action;
(e) abusing their position and violating banking standards and rules for the purpose of
taking unfair advantage of 1730 and raise 1730's interest rate for People’s greater
profit.
Page 7 of 14
31. The Defendants engaged in willful misconduct, consciously, recklessly and/or with gross
negligence and in bad faith, designed to mislead or deceive for the dishonest, interested
and/or sinister purpose of increasing the interest on 1730's monthly mortgage payments from
the 4.25%of the committed New Loan to the 11.5% default rate of the current 2010 mortgage
loan and causing 1730 to payments to People’s to increase from $9,061.72 a month to
$19,312.91 a month.
32. As a result of the Defendants aforesaid conduct the Plaintiffs have suffered financial damages
and losses including additional closing attorney’s fee and the devaluation of their interest in
the Property.
THIRD COUNT: (CUTPA)
1. Paragraphs 1 through 25 of the Second Count are incorporated herein and m ade
paragraphs 1 through 25 of this count.
26. At all times herein relevant the Defendant were “persons” within the meaning of C.G.S. §42-
110a(3).
27. At all times herein relevant the Defendant were engaged in commerce within the meaning of
C.G.S. §42-110(a)(4).
28. As a result of the Defendants’ aforesaid conduct, the Plaintiffs have been financially damaged
and injured and may suffer continuing financial damage in the future.
29. The Defendants’ aforesaid conduct constitutes a violation of Connecticut’s Unfair Trade
Practices Act, C.G.S. §42-110a, et seq.
Page 8 of 14
FOURTH COUNT: (tortious interference with a business expectancy)
1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut and a licenced real
estate broker.
2. Plaintiff Fischer Real Estate, Inc., is a Connecticut Corporation with a business address of 236
Boston Post Road, Orange, Connecticut 06477 owned and operated by the Plaintiff Alan
Fischer.
3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730
Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236
Boston Post Road, Orange, Connecticut 06477.
4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United
Financial, Inc. and is a diversified financial services company whose business included the
lending of money to borrowers to invest in real estate and with an office and principal place of
business located at 850 Main Street Bridgeport, CT 06604.
5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President of People’s
employed at People’s office located at 850 Main Street Bridgeport, CT 06604.
6. Defendant Virgilio Lopez Jr. is an individual and Vice President of People’s employed at
People’s office located at 850 Main Street Bridgeport, CT 06604.
7. On or about January 1998 Alan Fischer:
(a) arranged for the purchase of the Property;
(b) brought together the members of 1730;
(c) created AJC Management, LLC;
(d) has continually managed the operation of the Property; and
Page 9 of 14
(e) in his management capacity, arranged for the use of the Property to secure mortgage
loans from People’s in 1998 to purchase the Property and thereafter in 2010 and 2020.
8. On or about December 2019 Fischer began negotiation with Defendant Lopez the terms for
People’s refinancing the 2010 mortgage loan the Note for which was signed only by Fischer
for 1730 and had a maturity date of April 1, 2020.
9. During Fischer’s negotiations People’s was provided with information regarding:
(a) the existence of a number of lawsuits and the information therein, to wit:
(i) a pending eviction action by 1730 against Jefferson Scinto, a member of AJC,
for non payment of rent and in which action Marianne Scinto, a partner in 1730,
and Christian Scinto a partner in 1730 and a m ember of AJC combined to
support Jefferson Scinto’s harm to 1730;
(ii) a lawsuit by one of the 1730 limited partners against Jefferson Scinto for causing
financial harm to 1730;
(iii) an action against Fischer and Fischer Real Estate, Inc. by Jefferson Scinto for
Fischer’s purported breach of his fiduciary duty by failing to properly manage
AJC and 1730; and
(iv) a counterclaim by Fischer against Jefferson Scinto for past due accrued lease
rent and use and occupancy, interference with the management of the Property,
and violations of contract duties and Connecticut partnership statutes;
(b) the 1730 State Street Limited Partnership Agreement; and
(c) the AJC Management Agreement.
10. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its
Mortgage Commitment for a second refinance loan (the “New Loan”) which offer Fischer
accepted, signed and returned to People’s together with the consideration of a $5,000.00
acceptance payment(Exhibit 1, pg. 15).
Page 10 of 14
11. Prior to the Mortgage Commitment, People’s New Loan terms were stated in the June 11,
2020 letter ( Exhibit 2, pg. 21) to Fischer from Lopez.
12. Both the Mortgage Commitment and the Lopez letter recognized the implied contractual duty
of good faith and fair dealing applicable to People’s Mortgage Commitment by reference
therein to a “good faith” deposit being required of 1730 for the Mortgage Commitment contract
between the parties.
13. By August 20, 2020 all documents required by People’s Checklist (Exhibit 3, pg. 26) for the
New Loan:
(a) were provided by the Plaintiff 1730 through, or by direction of, its Manager Alan Fischer;
(b) were provided without any material contract or agreement being in default of the terms
of People’s Mortgage Commitment offer accepted by 1730;
(c) were accepted by People’s refinance attorneys thereby completing the agreement
between People’s and 1730.
14. On or before August 20, 2020 People’s New Loan attorneys were paid in full by 1730 for all
closing services to complete the New Loan (Exhibit 4, pg. 29), including paying:
(a) “Interest due on [the matured 2010] loan being pg. paid off Through 8/20/20" in the
amount of $5,769.60;
(b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account;
(c) a payment of $185 to set up the New Loan tax escrow account.
15. On August 24, 2020 Defendant Lopez, acting individually and for or by the direction of the
Defendant Nuzzolo, notified Fischer that “you are not in a position to deliver a resolution from
the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in form
and content acceptable to the Bank” and that “According ly, the July 28, 2020, Commitment
Letter is hereby rescinded.” (Exhibit 5, pg. 32).
Page 11 of 14
16. On August 26, 2020 and again on November 17, 2020 People’s declared the 2010 m ortgage
of 1730 to be in default.
17. As a result of People’s declaring the 2010 mortgage loan to be in default 1730's interest rate
was raised from the New Loan rate of 4.25% to a default rate of 11.5% increasing 1730's
payments to People’s and People’s income from $9,061.72 a month to $19,312.91 a month.
18. At all relevant times, all Defendants had actual or constructive knowledge of the
aforementioned business relationship between Alan Fischer, Fischer Real Estate, Inc. and
1730 involving the investment and sales value of the Property.
19. At all relevant times, the Defendants knowingly and intentionally interfered with those
relationships in that the Defendants acted to rescind the 2020 Mortgage Commitment and
default the 2010 mortgage for the specific purpose of obtaining a benefit for an attorney and/or
a law firm and/or the Scintos without cost to itself and with the potential benefit of increasing
its charges against 1730.
20. The aforementioned interference with the business relationship between Alan Fischer, 1730
and AJC caused Fischer and Fischer Real Estate, Inc. dam ages including:
(a) the incurring of additional legal expenses to process the August 20, 2020 mortgage
closing, and its sequelae including the need to adjudicate issues involving the Scintos
and People’s;
(b) delaying and or frustrating the aforesaid pending actions involving the S
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DOCKET NO.: AAN-CV20-6040118-S SUPERIOR COURT ALAN FISCHER, ET AL. J.D. OF ANSONIA-MILFORD VS. AT MILFORD PEOPLE’S UNITED BANK, N.A., ET AL. APRIL 30, 2024 AFFIDAVIT OF ATTORNEY’S FEES I, James T. Shearin, being duly sworn, hereby depose and says as follows: 1. lam over the age of eighteen years and believe in the obligations of an oath. 2. I am an attorney at law, licensed to practice in the State of Connecticut since 1986. 3. lam employed by the law firm of Pullman & Comley, LLC (“Pullman & Comley”) where I am a senior litigation partner. I served as the Firm’s Chairman for nine years and chaired the Firm’s Litigation Department for fifteen years. 4. ’ It is my opinion that an experienced litigation partner was required for the challenging, extensive, high dollar litigation described below. 5. Beginning in September of 2020, I was engaged to represent then People’s United Bank, N.A. (“People’s United” or “Bank”), with respect to a dispute between 1730 State Street Limited Partnership (“1730 State Street”) and the Bank, involving a contemplated refinance of 1730 State Street’s mortgage. 6. The Bank was a longtime client of Pullman & Comley’s and frequently hired us to defend litigation brought against the Bank. 7. The genesis of the dispute was the inability of the general partner of 1730 State’s Street, AJO Management, LLC (“AJC”) to agree upon an acceptable limited liability company borrower’s resolution, such that 1730 State Street could refinance its mortgage. As is customary in loan transactions involving limited liability companies, the Bank required such a resolution to ensure that the members were in agreement to enter into the loan. 8. Prior to my involvement, the limited partners of AJC, Messrs. Alan Fischer, Jefferson Scinto and Christian Scinto, had exchanged draft borrowing resolutions, but could not agree upon the language. The bone of contention was whether the resolution would recognize any authority on behalf of Mr. Fischer to direct the operations of AJC. The Bank took no position on the issues of who managed AJC, it simply wanted a resolution signed by all three members. 9. When the members were not able to agree, the refinance was aborted. 10. When I became involved, I first suggested that the three members of AJC simply sign a resolution authorizing the refinancing without any attribution of control and that said resolution be protected under Connecticut Rule of Evidence 4-8 so that no party was waiving any rights and the document could not be referred to in the future nor in conjunction with any of the suits that were then pending between the AJC members or family members1. That was acceptable to the Scintos, but unacceptable to Mr. Fischer, unless the Bank paid 1730 State Street $1,500,000.00. The Bank declined that demand. 1 Fischer v. Southport Contracting, Inc., etal, FT-CV-19-6088296-S ('“296 Action"), Fischer v. Scinto, et al, FBT-CV-20-6100675-S (‘“675 Action”), 1730 State Street Associates, L.P, v. Southport Contracting, Inc., et al, FBT-CV-19-6107491-S ('“491 Action”) (collectively “Pending Actions”). 2 11. Mr. Fischer then commenced the first of two lender-liability suits against People’s United, and two of its loan officers, Virgilio Lopez and Kenneth Nuzzolo (collectively “Bank Defendants”) (“First Suit”). The complaint was filed in the names of Mr. Fischer, 1730 State Street, and Fischer Real Estate, Inc. In the first three counts, the combined Plaintiffs claimed the Bank Defendants had breached a contract to refinance 1730 State Street’s debt, engaged in bad faith, and violated CUTPA. A copy of the Complaint is attached as Exhibit A. 12. During the course of the First Suit, Mr. Fischer filed two rounds of discovery requests and requests for admission, discovery which the Defendants successfully opposed on the grounds, inter alia, of their pending motion to dismiss (discussed below), but only after having to file a motion to stay discovery and having to make merit-based objections to the discovery. 13. After extensive research, the Bank Defendants moved to dismiss the case on the basis that the Plaintiffs had no standing to pursue their claims. Before that motion was heard, the Plaintiffs amended their complaint where they expanded the allegations in Count One, repeated Counts Two and Three, and added a tortious interference with business expectancies claim for Mr. Fischer and 1730 State Street and negligent infliction of emotional, distress claim as to Mr. Fischer. A copy of the Amended Complaint is attached as Exhibit B. After briefing and argument on a renewed motion to dismiss, the Court dismissed the first three counts of the complaint made by 1730 State Street against all Defendants. 14. The First Suit was then appealed to the Appellate Court. After extensive briefing there and argument, the Court sustained the Trial Court’s ruling. See Fischer, et 3 al v. People’s United Bank, NA, et al, 216 Conn. App. 426 (2022). Mr. Fischer then pursued a writ of certiorari which the Bank Defendants successfully opposed. 15. The First Suit was then remanded to the Superior Court for resolution of the two remaining claims, Counts Four and Five. 16. On remand, the Bank Defendants moved to strike both counts. Again, after extensive briefing and argument, both Counts were stricken. No appeal was taken. A copy of the Court Index for the First Suit is attached as Exhibit C. 17. The First Suit was pending for nearly three years, from September 2020 to August 2023. Before and while the First Suit was pending, People’s United and its officers were dragged into the Pending Actions which were being handled in a consolidated fashion during most of the pretrial proceedings. See e.g., ‘296 Action at July 28, 2021 Order. 18. From the outset, Mr. Fischer sought third-party written and deposition discovery from the Bank and its officers, and third-party discovery from the attorney hired by the Bank, Attorney Bradd Robbins, to handle the aborted refinance. The Bank Defendants argued, inter alia, this was a back door attempt to pursue the stayed discovery being sought in the First Suit and otherwise involved these parties in controversial issues in which they had no interest, such as whether the Parnoff law firm should be disgualified from acting as counsel to 1730 State Street or AJC or both. 19. The Bank Defendants filed merit-based objections to the discovery and repeated motions to guash for a protective order to the Fischer parties repeated subpoenas, all of which reguired significant time and effort. See e.g., ‘296 Action at Dkt. #s 187; 193 and 193.10; 209 and 209.10, and '491 Action at Dkt. # 186. Further, the Bank 4 Defendants were required to attend multiple hearings at which their testimony was either sought or their interests were implicated. See e.g., '491 Action, Notice dated December 10, 2021. Throughout the proceedings in the Pending Actions, particularly as it relates to the motions to disqualify, there were scores of pleadings filed that the Bank Defendants had to review. In those pleadings and multiple hearings, the Bank was targeted by Mr. Fischer either arguing his lender-liability claims or arguing the Bank was allied with the Scinto defendants (which was untrue). See e.g., ‘675 Action at Dkt. #s 217 and 217.50. Of necessity, the Bank was required to review what was being said about it by the Fischer parties, and the Scinto parties in their objections. Id. at Dkt. # 261. 20. In January 2021, People’s United Bank filed a foreclosure action against 1730 State Street. In response, Mr. Fischer, purportedly acting on behalf of 1730 State Street, filed the same lender-liability claims he had filed in the First Suit. The Bank’s officers, Mr. Lopez and closing attorney, Mr. Robbins, were then dragged into that case by Mr. Fischer pursuing the same claims and theories and filing many of the same pleadings as were filed in the Pending Cases. Of necessity, the Bank was forced to defend its officers and closing attorney as it had in the other cases, at still more time and expense. 21. Mr. Fischer filed a second lender-liability action against the Bank Defendants in January of 2023, purportedly as a derivative action brought in the name of 1730 State Street through its general partner, AJO Management, through its member, Alan Fischer (“Second Suit’’). Mr. Fischer re-asserted the very same breach of contract, 5 bad faith and CUTPA claims had been alleged - and dismissed or stricken - in the First Suit.2 A copy of the Second Suit Complaint is attached hereto as Exhibit D. 22. The Second Suit complaint was confusing. The summons was filed in the name of Alan Fischer even though the action was purportedly brought on behalf of 1730 State Street, and it was unclear as to what derivative angle Mr. Fischer was pursuing. 23. The Bank Defendants filed a motion to dismiss, which was extensive, thirty- five pages in length, and then a reply brief, challenging Mr. Fischer’s standing. After full briefing and argument, the motion was granted. Undeterred, Mr. Fischer has since filed an appeal, which necessitated the Bank Defendants appearing at a pre-appellate conference and will now require additional briefing on appeal to vindicate the Trial Court’s decision. A copy of the Second Suit Court Index is attached as Exhibit E. 24. The amount of time the Bank and its officers have incurred has been extensive, necessitated entirely because of the inability of 1730 State Street and, in turn, AJC to manage its officers in such a way as to not permit its lender to be dragged into a series of suits, and because of the relentless efforts undertaken by the Fischer parties to pursue unfounded claims against the Bank Defendants in the lender-liability suits, the Pending Action and the foreclosure suit. This is particularly unfortunate given the Bank’s offer to resolve the issue with a carefully written “Borrower’s Resolution.” 25. It is Pullman & Comley’s regular course of business to create and maintain contemporaneous billing records concerning work it does for its clients and to retain copies of the bills it sends to its clients. 2 M&T Bank Corp, acquired People’s United Bank, N.A. and it then became the Defendant in the Second Suit along with Messrs. Lopez and Nuzzolo. It is still referred to as “Bank” 6 26. Pullman & Comley maintains such records for the litigation it has handled in this matter. 27. Pullman & Comley, LLC’s invoices are vetted by the Bank’s in-house counsel and approved for payment only after a thorough review. There were two file numbers: 295.3 and 40665.1. The second number was set up later by M&T Bank for internal administrative reasons and largely tracks the time in the Second Suit. 28. Copies of the Bank’s invoices for time and expenses through February 2024 are attached as Exhibit F, redacted where necessary to protect applicable privileges. The total sum incurred for time and expenses through February 28, 2024, is $376,880.76, allocated per billing professional3 as follows:4 As to 295.3: Name Hours Average Rate Total Fees James T. Shearin 381.50 $586.62 $223,794.69 Marcy Tench Stovall 27.80 $400.00 $11,120.00 Dana Hrelic 41.30 $401.21 $16,570.00 Potoula Tournas 97.78 $279.36 $27,316.11 Julie V. Pinette 106.69 $270.01 $28,806.96 David Santiago 64.40 $292.25 $18,821.00 TOTAL: $326,428.76 3 Only those attorneys with significant time in the file have been included in this sum. 41 have attached as Exhibit G firm biographies for those professionals who are still with the firm - Attorneys Shearin, Stovall and Hrelic. No biography for Mr. Santiago is provided as he was a paralegal. 7 As to 40665.1: Name Hours Average Rate Total Fees James T. Shearin 31.90 $603.51 $19,252.00 Marcy Tench Stovall 78.00 $400.00 $31,200.00 TOTAL; $50,452.00 Dated at Bridgeport, Connecticut this day of April, 2024. es T. Shearin Subscribed and sworn to before me this'§9 day of April, 2024. Notary Public My Commission Expires:’ ALISON C. HENRY ' Notary Public, State of Connecticut My Commission Expires March 31,2028 8 o o U VO 6 CERTIFICATION OF SERVICE 5 I hereby certify that a copy of the above was electronically delivered on May 1, 2024, to all o CO VO C oo counsel and self-represented parties of record and that written consent for electronic delivery was h v© oc received from all counsel and self-represented parties of record who were electronically served: X d o Joseph P. Sargent, Esq. o C O 1595 Black Rock Turnpike oc Fairfield, CT 06824 . o iosephpsargent@optonline.net O ■J oc 2 — .e O James T. Shearin, Esq. O . Ct o Pullman & Comley, LLC O X — Q- O Z) o 850 Main Street 3 Bridgeport, CT 06601 Q O jtshearin@pullcom.com O E x o e U Delibro Realty Group, LLC — ■O O 1504 Barnum Ave. 8 Bridgeport, CT 06610 O Mail and email: robert@delibrorealty.com o — o C By: /s/James R. Byrne___________ D James R. Byrne, Esq. 0 E Updike, Kelly & Spellacy, P.C. 5 C C 0 § o o O 10 4321953 EXHIBIT A RETURN DATE: OCTOBER 27, 2020 SUPERIOR COURT ALAN FISCHER, ET AL JUDICIAL DISTRICT OF v. NEW HAVEN AT MILFORD PEOPLE’S BANK UNITED N.A., ET AL August 27, 2020 COMPLAINT FIRST COUNT: (breach of contract) 1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut. 2. Plaintiff Fischer Real Estate, Inc., is a Connecticut Corporation with a business address of 236 Boston Post Road, Orange, Connecticut 06477 which is owned and operated by the Plaintiff Alan Fischer. 3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730 Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236 Boston Post Road, Orange, Connecticut 06477. 4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United Financial, Inc. and is a diversified financial services company with an office and principal place of business located at 850 Main Street Bridgeport, CT 06604. 5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President at Peoples United Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 6. Defendant Virgilio Lopez Jr. is an individual and Vice President at Peoples United Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 7. AJC Management LLC (“AJC”): (a) is the general partner of 1730; (b) is charged with the managing the operation of 1730; and (c) can only act as manager of 1730 through the unanimous agreement of all members. 8. Under an agreement of its members, AJC delegated its responsibility for the operation of AJC and the Property to the Plaintiff Alan Fischer pursuant to the agreement between the members of AJC. 9. From on or about 1998 Alan Fischer has continually managed the operation of 1730's Property including 1730's use of the Property to secure mortgage loans from People’s. 10. At all times relevant hereto, the Property: (a) had a sales and appraised value which exceeded the amount of People’s loan and mortgage security (b) enjoys a current Loan to Value Ratio of 34 percent (34%); (c) continually had rental income which produced a profit after paying all mortgage and other expenses associated with it. 11. On or about December 2019 Fischer began negotiation with Defendant Lopez on the terms for People’s refinancing the current 2010 mortgage loan for which Payment was due April 1, 2020. Page 2 of 7 12. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its Mortgage Commitment for a second refinance loan (the “New Loan”) to payoff the current 2010 mortgage loan which offer Fischer accepted, signed and returned to People’s together with a $5,000.00 acceptance payment. A copy of People’s Mortgage Commitment and signed acceptance is attached hereto as Exhibit 1. 13. People’s July 28, 2020 Mortgage Commitment offer confirmed in sections entitled “Purpose,” “Term/Maturity,” and “Interest Rate” that: (a) New Loan proceeds were being used to “retired [the 2010] maturing [sic] mortgage;” (b) two loans were approved with the first loan (herein referred to as the “New Loan”) to be used to “retire maturing [sic] mortgage” and the second loan to “be used for environmental remediation repairs” and (c) the first loan (herein referred to as the “New Loan”) bearing interest at “Variable Rate. People's United Bank Prime Rate+ 1%” and the second loan bearing interest at “Variable Rate. Peoples United Bank Prime Rate + 2%.” 14. Peoples current “Variable Rate. Peoples United Bank Prim e Rate” offered to 1730 is 4.25%. A copy of the proposed terms of People’s offered New Loan is attached hereto as Exhibit 2. 15. Thereafter People’s New Loan attorneys Willinger, Willinger & Bucci, P.C. forwarded People’s closing Checklist of documents needed to close and set up the New Loan to pay off People’s matured mortgage loan. A copy of People’s Checklist is attached hereto as Exhibit 3. 16. People’s current 2010 mortgage loan bore interest at the fixed interest rate of 6.50% per annum amortized over 25 years, and includes an additional 5% penalty in the event of default. 17. People’s current 2010 mortgage loan provided that “this Note shall bear interest at the annual rate (the "Default Rate") of five percent (5%) per annum above the Interest Rate from and after such default until paid in full.” Page 3 of 7 18. On or about August 4, 2020 all documents required by People’s Checklist for the New Loan: (a) were provided by the Plaintiff 1730 through its Manager Alan Fischer; (b) were provided without any material contract or agreement being in default of the terms of People’s Mortgage Commitment offer accepted by 1730; (c) were accepted by People’s refinance attorneys thereby completing the agreement between People’s and 1730. 19. On or about August 4, 2020 People’s New Loan attorneys were paid in full by 1730 for all closing services to complete the New Loan, including paying: (a) “Interest due on [the matured 2010] loan being paid off Through 8/20/20" in the amount of $5,769.60; (b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account; (c) a payment of $185 to set up the New Loan tax escrow account. A copy of People’s New Loan attorney’s statement is attached hereto as Exhibit 4. 20. On August 25, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo, notified Fischer that People’s rescinded its Mortgage Commitment to 1730 for the New Loan. A copy of People’s rescind notice is attached hereto as Exhibit 5. 21. On August 26, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo, declared 1730 to be in default of People’s current 2010 mortgage loan which had been due and payable April 1, 2020. A copy of People’s rescind notice is attached hereto as Exhibit 5. 22. People’s declaring the current 2010 mortgage loan to be in default raised 1730's interest rate from the New Loan rate of 4.25% to a default rate of 11.5% raising 1730's payments to People’s of $9,061.72 a month to $19,312.91 a month. 23. As a result of People’s aforesaid rescinding of the accepted commitment offer and People’s subsequent declaring 1730 to be in default of its current 2010 mortgage loan the Plaintiffs Page 4 of 7 have suffered financial damages and losses including additional closing attorney’s fee and the devaluation of their interest in the Property. SECOND COUNT: (bad faith) 1. Paragraphs 1 through 22 of the First Count are incorporated herein and made paragraphs 1 through 22 of this count. 23. After Peoples had received signed resolutions from all three of AJC’s members, the Defendants Lopez and Nuzzolo manufactured the false and baseless purported cause in People’ August 24, 2020 to rescind the accepted Mortgage Commitment offer stating that: ”...you are not in a position to deliver a resolution from the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in form and content acceptable to the Bank. Unfortunately, without an acceptable borrowing authorization resolution the loan facility referenced in the Commitment Letter cannot be closed. Accordingly, the July 28, 2020, Commitment Letter is hereby rescinded.” 24. The Defendants acted in bad faith and in breach of the implied duty of good faith regarding its accepted Mortgage Commitment offer for the New Loan by: (a) using a manufactured, false, fraudulent and baseless misrepresentation in their August 24, 2020 letter to rescind its Mortgage Commitment offer accepted by 1730; (b) using the rescinded Mortgage Commitment to declare 1730's March 22, 2010 current mortgage loan note due April 1, 2020 to be in a def ault on August 26, 2020; (c) refusing to honor its accepte Mortgage Commitment offer; (d) engaging a purported third party to make false and baseless claims to justify their conduct and actions; (e) abusing their position and violating banking standards and rules for the purpose of taking unfair advantage of 1730 and raise 1730's interest rate for People’s greater profit. 25. The Defendants engaged in willful misconduct, consciously, recklessly and/or with gross negligence and in bad faith, designed to mislead or deceive for the dishonest, interested Page 5 of 7 and/or sinister purpose of increasing the interest on 1730's monthly mortgage payments from the 4.25%of the committed New Loan to the 11.5% default rate of the current 2010 mortgage loan and causing 1730 to payments to People's to increase from $9,061 .72 a month to $19,312 .91 a month. 26. As a result of the Defendants aforesaid conduct the Plaintiffs have suffered financial damages and losses including additional closing attorney's fee and the devaluation of their interest in the Property. THIRD COUNT: (CUTPA) 1. Paragraphs 1 through 25 of the Second Count are incorporated herein and made paragraphs 1 through 25 of this count. 26. At all times herein relevant the Defendant were "persons" within the meaning of C.G .S. §42- 11 Oa(3). 27. At all times herein relevant the Defendant were engaged in commerce within the meaning of C.G.S. §42-11 O(a)(4 ). 28. As a result of the Defendants aforesaid conduct, the Plaintiffs have been financially damaged and injured and may suffer continuing financially damaged in the future. 29. The Defendants' aforesaid conduct constitutes a violation of Connecticut's Unfair Trade Practices Act, C.G.S. §42-110a, etseq. THE LAURENCE V. PAR I LAURENCE V. PAR , P.C ., 438546 1566 Park Avenue, Bridgeport, CT 06604 Ph./Fax 203-336-1861 Emaillvparnoff@gmail.com Page 6 of 7 RETURN DATE: OCTOBER 27,2020 SUPERIOR COURT ALAN FISCHER, ET AL JUDICIAL DISTRICT OF v. NEW HAVEN AT MILFORD PEOPLE'S BANK UNITED N.A., ET AL August27,2020 WHEREFORE, THE PLAINTIFF CLAIMS (a) Monetary damages and the amount, legal interest, or property in demand is fifteen thousand dollars or more, exclusive of interest and costs. (b) Compensatory damages, including benefits, special, and general damages according to proof; (c) Punitive damages according to common law; (d) An order temporarily and permanently enjoining the Defendant from the continuing business practices in violation of C.G.S. §42-100(g); (e) Attorney's fees pursuant to C.G.S. §42-110(b); and (f) Interest on losses. LAURENCE V. PA F, Jr. LAURENCE V. PARNOFF, P.C., 438546 1566 Park Avenue, Bridgeport, CT 06604 Phone/Fax: 203-336-1861 E-mail: LVPARNOFF@GMAIL.COM Page 7 of 7 EXHIBIT B NO.: AAN-CV-20-6040118-S SUPERIOR COURT ALAN FISCHER, ET AL JUDICIAL DISTRICT OF v. NEW HAVEN AT MILFORD PEOPLE’S BANK UNITED N.A., ET AL November 26, 2020 AMENDED COMPLAINT P.B. § 10-59 FIRST COUNT: (breach of contract) 1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut and a licenced real estate broker. 2. Plaintiff Fischer Real Estate, Inc. is a Connecticut Corporation with a business address of 236 Boston Post Road, Orange, Connecticut 06477 owned and operated by the Plaintiff Alan Fischer. 3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730 Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236 Boston Post Road, Orange, Connecticut 06477. 4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United Financial, Inc. and is a diversified financial services company whose business included the lending of money to borrowers to invest in real estate and with an office and principal place of business located at 850 Main Street Bridgeport, CT 06604. 5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President at Peoples United Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 6. Defendant Virgilio Lopez Jr. is an individual and Vice President at Peoples United Bank employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 7. AJC Management, LLC (“AJC”): (a) is the general partner of 1730; (b) is charged with managing the operation of 1730; and (c) can only act as manager of 1730 through the unanimous agreement of all members. 8. Under an agreement of its members, AJC delegated its responsibility for the operation of AJC and the Property to the Plaintiff Alan Fischer pursuant to the agreement between the members of AJC. 9. From on or about 1998 Alan Fischer has continually managed the operation of 1730's Property which management included 1730's use of the Property to secure mortgage loans from People’s in 1998, 2010 and 2020. 10. At all times relevant hereto, the Property: (a) had a sales and appraised value which exceeded the amount of People’s loan and mortgage security (b) enjoys a current Loan to Value Ratio of 34 percent (34%); (c) continually had rental income which produced a profit after paying all mortgage and other expenses associated with the Property. Page 2 of 14 11. On or about December 2019 Fischer began negotiating with Defendant Lopez the terms for People’s refinancing of the 2010 mortgage loan which 1730's Mortgage Note, signed by Fischer, had a maturity date of April 1, 2020. 12. During Fischer’s negotiations, People’s was provided with information regarding: (a) a pending eviction action by 1730 and lawsuits by a limited partner of 1730 which lawsuits involved Fischer, Fischer Real Estate, Inc. and Jefferson Scinto who is a member of AJC and who repudiated his prior agreement to pay accruing amounts due for use an occupancy of the Property and who obtained the support of his wife, a partner in 1730, and his son who is both a partner in 1730 and a member of AJC; (b) the 1730 State Street Limited Partnership Agreement; and (c) the AJC Management Agreement. 13. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its Mortgage Commitment for a second refinance loan (the “New Loan”) which offer Fischer accepted, signed and returned to People’s together with a $5,000.00 acceptance payment. A copy of People’s Mortgage Commitment and signed acceptance is attached hereto as Exhibit 1 (See pg. 15). 14. People’s July 28, 2020 Mortgage Commitment offer confirmed in the sections entitled “Purpose,” “Term/Maturity,” and “Interest Rate” that: (a) two loans were approved, with the first loan (herein referred to as the “New Loan”) to be used to “. . . retire [the 2010] maturing mortgage . . .” and the second loan to “be used for environmental remediation repairs”; and (b) the New Loan bearing interest at “Variable Rate. People's United Bank Prime Rate+ 1%” and the second loan bearing interest at “Variable Rate. Peoples United Bank Prime Rate + 2%.” Page 3 of 14 15. People’s New Loan terms were stated in the June 11, 2020 letter to Fischer f rom Lopez. A copy of the proposed terms of People’s offered New Loan is attached hereto as Exhibit 2 (See pg. 21). 16. Both the Mortgage Commitment and the Lopez letter recognized the implied contractual duty of good faith and fair dealing applicable to People’s Mortgage Commitment by their reference to the “good faith” deposit required from 1730 for the Mortgage Commitment contract. 17. Thereafter, People’s New Loan attorneys Willinger, Willinger & Bucci, P.C. forwarded People’s closing Checklist of documents needed to close and set up the New Loan to retire People’s 2010 mortgage loan to 1730. A copy of People’s Checklist is attached hereto as Exhibit 3 (See pg. 26). 18. People’s 2010 mortgage loan bore interest at the fixed interest rate of 6.50% per annum amortized over 25 years, and includes an additional 5% penalty in the event of default. 19. People’s 2010 mortgage loan provided that “this Note shall bear interest at the annual rate (the "Default Rate") of five percent (5%) per annum above the Interest Rate from and after such default until paid in full.” 20. On or before August 20, 2020 all documents required by People’s Checklist for the New Loan: (a) were provided by the Plaintiff 1730 through its Manager Alan Fischer; (b) were provided without any material contract or agreement being in default of the terms of People’s Mortgage Commitment offer accepted by 1730; (c) were accepted by People’s refinance attorneys thereby completing the agreement between People’s and 1730. 21. On or before August 20, 2020 People’s New Loan attorneys were paid in full by 1730 for all closing services to complete the New Loan, including paying: Page 4 of 14 (a) “Interest due on [the matured 2010] loan being paid off Through 8/20/20" in the amount of $5,769.60; (b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account; (c) a payment of $185 to set up the New Loan tax escrow account. A copy of People’s New Loan attorney’s statement is attached hereto as Exhibit 4 (See pg. 29). 22. On August 24, 2020 the Defendant Lopez, acting individually and for the Defendant Nuzzolo, notified Fischer that “you are not in a position to deliver a resolution from the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in form and content acceptable to the Bank” and that “Accordingly, the July 28, 2020, Commitment Letter is hereby rescinded.” A copy of People’s rescind notice is attached hereto as Exhibit 5 (See pg. 32). 23. On August 26, 2020 People’s attorneys Willinger, Willinger & Bucci, P.C. declared the 2010 Mortgage of 1730 to People’s to be in default stating that: “The Loan Documents are in default due to the failure of the Borrower to pay all outstanding principal and interest due to the Bank pursuant to the Loan Documents upon the extended maturity date of July 31, 2020. ... Additionally, the Bank has imposed a legal hold against the Borrower's account with the Bank in the amount of $6,300.00 regarding the Bank's legal fees and expenses and has debited the Borrower's account by $1,006.90 to pay the Bank's outstanding closing fees incurred in connection with the proposed refinancing of the Borrower's obligations to the Bank, which refinancing was unable to be completed due to the failure of the principals of the Borrower's general partner to execute an acceptable loan authorization resolution.” A copy of People’s default notice is attached hereto as Exhibit 6 (See pg. 34). Page 5 of 14 24. On November 17, 2020 People’s attorneys Updike, Kelly & Spellacy, P.C. declared the 2010 Mortgage of 1730 to People’s to be in default formally notifying 1730 that: (a) “. . . the ‘Loan Documents’ are in default. The Note has matured and payment is past due. Obligors have failed to timely pay all payments due under the Loan Documents . . .” A copy of People’s default notice is attached hereto as Exhibit 7 (See pg. 37). 25. Updike, Kelly & Spellacy, P.C.: (a) assiduously avoided reference to 1730's purported failure to provide an acceptable loan authorization resolution in the November 17, 2020 letter; and (b) failed to respond to questions raised regarding the true, complete and actual basis for People’s continuing failure to honor its Mortgage Commitment. 26. People’s rescinding the Mortgage Commitment for which 1730 had paid was followed by People’s claim that the 2010 mortgage loan was in default and resulted in People’s declaration that 1730's interest rate increased from the committed New Loan rate of 4.25% to the 2010 mortgage loan default rate of 11.5%, thereby raising 1730's payments and People’s income from $9,061.72 a month to $19,312.91 a month. 27. The Plaintiffs have suffered financial damages and losses including additional closing attorney’s fee and the devaluation of their interest in the Property as a result of the aforesaid conduct of Peoples, the false statement of its representatives and employees; the rescinding of the accepted Mortgage Commitment offer; and the subsequent multiple declaring the 1730 mortgage to be in default of its 2010 mortgage loan. Page 6 of 14 SECOND COUNT: (bad faith) 1. Paragraphs 1 through 25 of the First Count are incorporated herein and made paragraphs 1 through 25 of this count. 28. Peoples had received signed resolutions from Fischer, the member appointed by AJC to manage 170 and from the individual members of AJC. 29. Nevertheless, in People’s August 24, 2020 letter, the Defendants Lopez and Nuzzolo manufactured the false and baseless purported cause to rescind the accepted and paid f or Mortgage Commitment offer stating that: “. . . you are not in a position to deliver a resolution from the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in form and content acceptable to the Bank.” 30. All Defendants acted in bad faith and in breach of the implied duty of good faith regarding its accepted Mortgage Commitment offer for the New Loan by: (a) using a manufactured, false, fraudulent and baseless misrepresentation in their August 24, 2020 letter to rescind its Mortgage Commitment offer accepted by 1730; (b) using the rescinded Mortgage Commitment to declare 1730's March 22, 2010 current mortgage loan note due April 1, 2020 to be in a def ault on August 26, 2020; (c) refusing to honor its accepted Mortgage Commitment offer for which consideration was paid; (d) engaging a purported third party to: (i) make false and baseless claims to justify their conduct and actions; and (ii) prevailing on the third party to alter judicial admissions to support their wrongful action; (e) abusing their position and violating banking standards and rules for the purpose of taking unfair advantage of 1730 and raise 1730's interest rate for People’s greater profit. Page 7 of 14 31. The Defendants engaged in willful misconduct, consciously, recklessly and/or with gross negligence and in bad faith, designed to mislead or deceive for the dishonest, interested and/or sinister purpose of increasing the interest on 1730's monthly mortgage payments from the 4.25%of the committed New Loan to the 11.5% default rate of the current 2010 mortgage loan and causing 1730 to payments to People’s to increase from $9,061.72 a month to $19,312.91 a month. 32. As a result of the Defendants aforesaid conduct the Plaintiffs have suffered financial damages and losses including additional closing attorney’s fee and the devaluation of their interest in the Property. THIRD COUNT: (CUTPA) 1. Paragraphs 1 through 25 of the Second Count are incorporated herein and m ade paragraphs 1 through 25 of this count. 26. At all times herein relevant the Defendant were “persons” within the meaning of C.G.S. §42- 110a(3). 27. At all times herein relevant the Defendant were engaged in commerce within the meaning of C.G.S. §42-110(a)(4). 28. As a result of the Defendants’ aforesaid conduct, the Plaintiffs have been financially damaged and injured and may suffer continuing financial damage in the future. 29. The Defendants’ aforesaid conduct constitutes a violation of Connecticut’s Unfair Trade Practices Act, C.G.S. §42-110a, et seq. Page 8 of 14 FOURTH COUNT: (tortious interference with a business expectancy) 1. Plaintiff Alan Fischer, is an individual residing in Madison, Connecticut and a licenced real estate broker. 2. Plaintiff Fischer Real Estate, Inc., is a Connecticut Corporation with a business address of 236 Boston Post Road, Orange, Connecticut 06477 owned and operated by the Plaintiff Alan Fischer. 3. Plaintiff 1730 State Street Limited Partnership (“1730”) owns the real property located at 1730 Commerce Street, Bridgeport, Connecticut (the "Property") and its business address is 236 Boston Post Road, Orange, Connecticut 06477. 4. Defendant People’s Bank United N.A. (“People’s”), is a subsidiary of People's United Financial, Inc. and is a diversified financial services company whose business included the lending of money to borrowers to invest in real estate and with an office and principal place of business located at 850 Main Street Bridgeport, CT 06604. 5. Defendant Kenneth Nuzzolo is an individual and a Senior Vice President of People’s employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 6. Defendant Virgilio Lopez Jr. is an individual and Vice President of People’s employed at People’s office located at 850 Main Street Bridgeport, CT 06604. 7. On or about January 1998 Alan Fischer: (a) arranged for the purchase of the Property; (b) brought together the members of 1730; (c) created AJC Management, LLC; (d) has continually managed the operation of the Property; and Page 9 of 14 (e) in his management capacity, arranged for the use of the Property to secure mortgage loans from People’s in 1998 to purchase the Property and thereafter in 2010 and 2020. 8. On or about December 2019 Fischer began negotiation with Defendant Lopez the terms for People’s refinancing the 2010 mortgage loan the Note for which was signed only by Fischer for 1730 and had a maturity date of April 1, 2020. 9. During Fischer’s negotiations People’s was provided with information regarding: (a) the existence of a number of lawsuits and the information therein, to wit: (i) a pending eviction action by 1730 against Jefferson Scinto, a member of AJC, for non payment of rent and in which action Marianne Scinto, a partner in 1730, and Christian Scinto a partner in 1730 and a m ember of AJC combined to support Jefferson Scinto’s harm to 1730; (ii) a lawsuit by one of the 1730 limited partners against Jefferson Scinto for causing financial harm to 1730; (iii) an action against Fischer and Fischer Real Estate, Inc. by Jefferson Scinto for Fischer’s purported breach of his fiduciary duty by failing to properly manage AJC and 1730; and (iv) a counterclaim by Fischer against Jefferson Scinto for past due accrued lease rent and use and occupancy, interference with the management of the Property, and violations of contract duties and Connecticut partnership statutes; (b) the 1730 State Street Limited Partnership Agreement; and (c) the AJC Management Agreement. 10. On or about July 28, 2020 Fischer’s successful negotiations resulted in People’s offering its Mortgage Commitment for a second refinance loan (the “New Loan”) which offer Fischer accepted, signed and returned to People’s together with the consideration of a $5,000.00 acceptance payment(Exhibit 1, pg. 15). Page 10 of 14 11. Prior to the Mortgage Commitment, People’s New Loan terms were stated in the June 11, 2020 letter ( Exhibit 2, pg. 21) to Fischer from Lopez. 12. Both the Mortgage Commitment and the Lopez letter recognized the implied contractual duty of good faith and fair dealing applicable to People’s Mortgage Commitment by reference therein to a “good faith” deposit being required of 1730 for the Mortgage Commitment contract between the parties. 13. By August 20, 2020 all documents required by People’s Checklist (Exhibit 3, pg. 26) for the New Loan: (a) were provided by the Plaintiff 1730 through, or by direction of, its Manager Alan Fischer; (b) were provided without any material contract or agreement being in default of the terms of People’s Mortgage Commitment offer accepted by 1730; (c) were accepted by People’s refinance attorneys thereby completing the agreement between People’s and 1730. 14. On or before August 20, 2020 People’s New Loan attorneys were paid in full by 1730 for all closing services to complete the New Loan (Exhibit 4, pg. 29), including paying: (a) “Interest due on [the matured 2010] loan being pg. paid off Through 8/20/20" in the amount of $5,769.60; (b) a “Payment to tax escrow account” of $9,890.27 for the New Loan tax escrow account; (c) a payment of $185 to set up the New Loan tax escrow account. 15. On August 24, 2020 Defendant Lopez, acting individually and for or by the direction of the Defendant Nuzzolo, notified Fischer that “you are not in a position to deliver a resolution from the general partner of 1730 State Street Limited Partnership, AJC Management, LLC, in form and content acceptable to the Bank” and that “According ly, the July 28, 2020, Commitment Letter is hereby rescinded.” (Exhibit 5, pg. 32). Page 11 of 14 16. On August 26, 2020 and again on November 17, 2020 People’s declared the 2010 m ortgage of 1730 to be in default. 17. As a result of People’s declaring the 2010 mortgage loan to be in default 1730's interest rate was raised from the New Loan rate of 4.25% to a default rate of 11.5% increasing 1730's payments to People’s and People’s income from $9,061.72 a month to $19,312.91 a month. 18. At all relevant times, all Defendants had actual or constructive knowledge of the aforementioned business relationship between Alan Fischer, Fischer Real Estate, Inc. and 1730 involving the investment and sales value of the Property. 19. At all relevant times, the Defendants knowingly and intentionally interfered with those relationships in that the Defendants acted to rescind the 2020 Mortgage Commitment and default the 2010 mortgage for the specific purpose of obtaining a benefit for an attorney and/or a law firm and/or the Scintos without cost to itself and with the potential benefit of increasing its charges against 1730. 20. The aforementioned interference with the business relationship between Alan Fischer, 1730 and AJC caused Fischer and Fischer Real Estate, Inc. dam ages including: (a) the incurring of additional legal expenses to process the August 20, 2020 mortgage closing, and its sequelae including the need to adjudicate issues involving the Scintos and People’s; (b) delaying and or frustrating the aforesaid pending actions involving the S