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FIRST AM. BANK v. WINDJAMMER TIME SHARING

No. 84-2109.

483 So.2d 732 (1986)

FIRST AMERICAN BANK & TRUST, f/k/a First American Bank of Palm Beach, a Florida Corporation, Appellant/Cross Appellee, v. WINDJAMMER TIME SHARING RESORT, INC., a Florida Corporation, Appellee/Cross Appellant.

District Court of Appeal of Florida, Fourth District.

Rehearings Denied March 17, 1986.

Attorney(s) appearing for the Case

Edna L. Caruso of Edna L. Caruso, P.A., West Palm Beach, for appellant/cross appellee.

Harris K. Solomon and Michael J. McNerney of Brinkley, McNerney & Morgan and Karen Kantner of Britton, Cassel, Schantz & Schatzman, P.A., Fort Lauderdale, for appellee/cross appellant.

HURLEY, Judge.

Appellant bank seeks to overturn a final judgment finding that it loaned money at a usurious rate of interest. The borrower, in turn, cross appeals and contends that the trial court failed to award sufficient damages. We affirm in part and reverse in part.

Windjammer borrowed $1,900,000 from the First American Bank & Trust (the bank) to finance the renovation and conversion (into time-share units) of a hotel. The money was disbursed in four...

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