This ruling was selected and summarized by the New York Law Journal's decision editors.
February 27, 2024 at 08:09 PM
2 minute read
In opposition to a $77.2 million judgment in favor of the New York Attorney General against a group of merchant cash advance companies, respondents indicated that a portion of the money was principal, not interest.
Under Adar Bays, LLC v GeneSys ID, Inc., 37 NY3d 320 (2021), the AG was not entitled to a judgment that included principal, respondents Richmond Capital Group, Ram Capital Funding, and Viceroy Capital Funding argued.
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