Associated Merchandise Group, Inc. et al v. American Marketing and Capital, Inc. et al

Filing 51

ORDER for final judgment So Ordered by Judge Paul J. Barbadoro.(mm)

UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW HAMPSHIRE

Associated Merchandise Group, Inc., Cool
Comfort Technologies, Inc. and Digital
Dye, Inc.
Petitioners,
v.

Docket No. 1:11-CF-00311-PB

American Marketing and Capital, Inc., and
CCT Lending, LLC
Respondents.

ORDER FOR FINAL JUDGMENT
Judgment is entered in favor of Petitioners Associated Merchandise Group, Inc., Cool
Comfort Technologies, Inc. and Digital Dye, Inc. and against American Marketing and Capital,
Inc. (“AMAC”) on the Petitioners’ claims for declaratory relief:
A. A certain loan transaction entered by the Petitioners and AMAC on or about August 20,
2008 pursuant to a Line of Credit Loan Agreement, Revolving Credit Note, and Security
Agreement (together the “Loan Documents” and “Loan Transaction”) is hereby declared
void and unenforceable because the Loan Transaction violates New Hampshire financial
disclosure laws (NH RSA 399-B:2) and Massachusetts and Rhode Island criminal usury
statutes (MGL Chap 271 sec 49 and RI Gen Laws sec. 6-26-2);
B. AMAC’s handling of the Loan Transaction willfully violated the consumer protection
statutes of New Hampshire, Massachusetts, Rhode Island and Maine entitling the
Petitioners to multiple damages, attorneys’ fees and costs;
C. Petitioners’ claims for damages are withdrawn without prejudice.

So Ordered.

May 22, 2012

cc:

Counsel of Record

/s/ Paul Barbadoro
______________________________
Judge Paul J. Barbadoro