Cliftondale Oaks LLC v. Silver Lake Enters. LLC (In re Cliftondale Oaks LLC)
Jan
06
2006
Ruling
Creditor was entitled to default interest as reasonable fees but was not entitled to double recovery by also charging late fees.
Procedural posture
Debtor objected to creditor's proof of claim and sought disallowance of the portion of the claim that represented default interest and late charges. The debtor argued that the default interest and late charges constituted an unreasonable penalty. The debtor also asserted that the payment of default interest and late charges would be inequitable to the debtor's other equity holders.
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Court
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