Legal Opinion
Joel T. Marker, as Trustee for the Transworld Telecommunications, Inc., Trust v. Pacific Mezzanine Fund, L.P.
Court of Appeals for the Tenth Circuit
Decided October 30, 2002No. 01-4043PublishedCited by 1 opinion
1Opinion of the Court
EBEL, Circuit Judge.
This case presents an issue of first impression: whether the usury remedy under the Small Business Investment Act (“SBIA”), 15 U.S.C. § 687, provides for the return of collateral retained upon foreclosure of the underlying usurious loan. Appellant Pacific Mezzanine Fund, L.P. (“PMF”) loaned $2,500,000 to Transworld Telecommunications, Inc. (“TTI”) 1 under the provisions of the SBIA. TTI offered several forms of collateral to secure the loan, including two promissory notes. TTI failed to make one of its interest payments, and PMF’s subsequent retention of one of the…
2Cases cited7 opinions
- Robinson v. Shell Oil Co.Supreme Court of the United States · 1997
- Szerdahelyi v. HarrisNew York Court of Appeals · 1986
- United States v. Fidelity Capital Corporation, a Georgia Corporation, Commonwealth Mortgage Corporation of America, Intervenor-AppelleeCourt of Appeals for the Eleventh Circuit · 1991
- Phillips v. White (In re White)Court of Appeals for the Tenth Circuit · 1994
- Talbot v. Sioux City First National BankSupreme Court of the United States · 1902
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3Cited by1 opinion
- Qwest Corporation v. AT&T Corp.Court of Appeals for the Tenth Circuit · 2007