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BAKHASH v. WINSTON

16339, 151999/14.

134 A.D.3d 468 (2015)

19 N.Y.S.3d 887

2015 NY Slip Op 08966

DAVID BAKHASH, Respondent, v. JONATHAN WINSTON, Appellant.

Appellate Division of the Supreme Court of New York, First Department.

Decided December 8, 2015.

The subject note is usurious as a matter of law and, therefore is void (see e.g. Szerdahelyi v Harris, 67 N.Y.2d 42, 48 [1986]; Freitas v Geddes Sav. & Loan Assn., 63 N.Y.2d 254, 262 [1984]). "The maximum per annum interest rate for a loan . . . is 16% under New York's civil usury statute and 25% under the state's criminal usury statute (see General Obligations Law § 5-501...

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