Posts Categorized: Usury

Posted: November 2, 2018

Defendants Estopped From Raising Usury Defense

On October 17, 2018, Justice Ash of the Kings County Commercial Division issued a decision in Sasidharan v. Piverger, 2018 NY Slip Op. 32669(U), holding that defendants that arranged the terms of an investment were estopped from asserting a usury defense, explaining: Upon consideration of the foregoing, the Court finds that the Assoumou Defendants are… Read more »

Posted: May 10, 2016

Lender May Charge Reasonable Expenses Attendant to Loan Without Making Loan Usurious

On May 2, 2016, Justice Emerson of the Suffolk County Commercial Division issued a decision in Aquila v. Rubio, 2016 NY Slip Op. 50682(U), holding that a lender may charge for its reasonable expenses attendant to making a loan without making the loan usurious. In Aquila, the plaintiff loaned the defendant’s decedent $900,000 “for a… Read more »

Posted: April 25, 2015

Heter Iska Enforced as a Note, Not a Partnership Agreement

On April 15, 2015, Justice Demarest of the Kings County Commercial Division issued a decision in Kirzner v. Plasticware, LLC, 2015 NY Slip Op. 50533(U), enforcing a note that had certain characteristics of a partnership agreement. In Kirzner, the plaintiff moved for summary judgment on its claims based on a promissory note. The defendants’ arguments…