Beausejour Corporation, N v. V. Offshore Development Company, Inc.

Beausejour Corporation, N.V. (“Beausej-our”) appeals the order of the district court affirming the judgment of the bankruptcy court, 37 B.R. 96, that the transaction between Beausejour and Offshore Development Corp. (“Offshore”) was a usurious loan and, therefore, that the debt owed by Offshore was unenforceable. Beausejour contends that the lower courts erred in holding: (1) that the transaction between Beausejour and Offshore was a loan viola-tive of Florida’s usury laws; (2) that, if the loan was violative of Florida’s usury statutes, the civil penalty for criminal usury imposed by…