Pandiscio v. Atkinson

This case arises out of a dispute between the parties over amounts due under the terms of a promissory note which had a clause prohibiting prepayment for five years. The plaintiff took the position that the defendants, CBG Nominee Trust (CBG), had accelerated the note and lost their right to a prepayment penalty. In the circumstances described below, the parties entered into a settlement agreement. The plaintiff *483subsequently claimed that the amounts payable under the settlement agreement amounted to interest on the note at a rate that violated the criminal usury statute, G. L. c. 271, § 49,…