Zahra v. Charles

MEMORANDUM OPINION AND ORDER

PHILLIP PRATT, Chief Judge.

This suit is an attempt by the plaintiff investors, Lawrence and Patricia Zahra, to recover monies allegedly owed them by the defendant, Stanley Charles. Between 1977 and 1984, the defendant obtained over $40,-000 from the plaintiffs, the consideration being several promissory notes with a maturity date of 30 days, and an annualized interest rate of apparently well over 50%. On December 7, 1985 this court granted partial summary judgment to the plaintiffs of $106,927.00. On March 6, 1986, the defendant’s motion to modify the order of…