It is clear that if this was a loan to the individual defendants, it was usurious and unenforceable; if to the corporation, it was enforceable and not usurious. On the undisputed facts of this case, the only permissible inference was that this was a loan to the individuals. Plaintiffs say the loan was part of a recapitalization plan for the corporation. It remains true that this recapitalization was made by loans from plaintiffs to the individual defendants, and from the...
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