U.S. District Court (New York) Rules Interest Rates on Loans Are Not Usurious

BVLaw
Court Case Digests
June 1, 2023
2741 Miscellaneous Publishing
512230 Music Publishers
expert testimony, contract
intrinsic value, interest rate, warrants, promissory note

Golock Capital, LLC v. VNUE, Inc.
2023 U.S. Dist. LEXIS 95761; 2023 WL 3750333
US
Federal Court
New York
United States District Court
Jeffrey Feinman, CPA; Dr. Scott D. Hakala
Denise Cote

Summary

The plaintiffs sued for breach of obligations on convertible promissory notes issued to the defendant. The defendant admitted it had not repaid the loans but contended that the rates of interest on the loans were “criminally usurious” and were, therefore, void. Following a bench trial, the U.S. District Court (New York) found that the interest rates were not usurious and ruled in favor of the plaintiffs, including an award for attorneys’ fees.

See Also

Golock Capital, LLC v. VNUE, Inc.

The plaintiffs sued for breach of obligations on convertible promissory notes issued to the defendant. The defendant admitted it had not repaid the loans but contended that the rates of interest on the loans were “criminally usurious” and were, therefore, void. Following a bench trial, the U.S. District Court (New York) found that the interest rates were not usurious and ruled in favor of the plaintiffs, including an award for attorneys’ fees.