Lawrence C. LaBonte (American Steel Coatings, LLC) v. New England Development R.I., LLC
Supreme Court of Rhode Island
1Opinion of the Court
OPINION
Justice ROBINSON, for the Court.
American Steel Coatings, LLC (American Steel) appeals from a December 7, 2011 2 order, in which a justice of the Providence County Superior Court voided as usurious a “Loan Agreement, Promissory Note, and Mortgage granted to American Steel * * * by New England Development RI, LLC [ (N.E. Development) ]” and that entity’s owner, Lawrence C. La-Bonte. American Steel contends on appeal that the hearing justice erred when he determined that the “commercial loan commitment fee” (as American Steel characterizes it) contained in the loan agreement between the…
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