| After Loans at 79% Interest
New Yorker Sues NJ Lender For Usury As
Deposition by FedEx Mulled
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
July 6 – Alleging usurious
loans under New York State
law, Jayaveerapandian
Shunmugavel has sued Selvam
Balasubramaniam, calling him a
"ruthless loan
shark."
On July 6, U.S.
District Court for the
Southern District of New York
Judge P. Kevin Castel held a
proceeding. Inner City Press
covered it.
Discovery was discussed,
including remote deposition at
which Judge Castel proposed
that documents sent by FedEx
would be kept sealed until the
questioning itself.
One of the
lawyers laughed, saying he had
recently faced an adversary
who demanded to see such
documents three days before
the deposition Q&A. He
asked if the SDNY courthouse
would be used to conduct
depositions.
That might
happen in the New York State
courthouses, Judge Castel
replied, but not here.
Many
of the issues in the case come
down to choice of law: the
interest rates cited, 70%, are
usury in New York but perhaps
not elsewhere.
So Judge
Castel asked for filings on
this issue, while encouraging
the parties to try to
settle.
He proposed
referring the matter to the
mediation program, saying he
would so order it and consider
reversing that if he heard
again from the parties.
The case is
Shunmugavel v.
Balasubramaniam, 20-cv-957
(Castel)
***
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