The Plaintiffs moved for summary judgment on loans due and payable by the Defendants, who were engaged in a real estate business.
The loans, totaling $70,000 in principal, plus 12% annual interest, were evidenced by promissory notes.
The Defendants did not dispute the existence of the loans but raised concerns about the interest rate and the priority of these claims relative to a separate, related action (Piccioni v. Viktyuk).
The court found no real controversy regarding the 12% interest rate, as one defendant assumed it and the other definitively admitted it.
The court granted full summary judgment to the Plaintiffs, concluding that the issues of liability were distinct from the Piccioni action and that a priority dispute at the enforcement stage did not preclude judgment on the loans.
Enforcement of the judgment was stayed pending resolution of the priority issue.
