In re Stone Street Capital, LLC

Salinger, Kenneth W., J.

Stone Street Capital, LLC, seeks approval of an agreement by Kevin Freitas to assign future Massachusetts lotteiy prize payments to Stone Street in exchange for a lump sum payment. The Court concludes that the 24.765 percent discount rate reflected in the parties’ contract is usurious and unlawful. It therefore orders that the contract be reformed to increase the lump sum payment to Mr. Freitas so that it reflects a discount rate that does not exceed 20 percent annually.

Mr. Freitas has agreed to sell and assign, and Stone Street has agreed to buy, five annual…