BKNS Management LLC v. Frysta Management LLC
- John Cronan
- 1:24-cv-03631
- U.S. District Court · Southern District of New York
- 1
In BKNS Management LLC v. Frysta Management LLC, Judge Cronan scheduled argument on BKNS’s summary-judgment motion.
BKNS Management LLC and Frysta Management LLC, the parties to the scheduled summary-judgment argument.
What happened
In BKNS Management LLC v. Frysta Management LLC, the court scheduled oral argument on BKNS Management LLC’s motion for summary judgment for May 7, 2025. The court expected to allow each side twenty minutes.
The court directed the parties to be ready to discuss whether a New York case applies and whether a $125,000 late fee could conceal an unlawful interest charge, even if the promissory note itself does not show an unlawful charge.
This order did not decide the summary-judgment motion or the underlying dispute. Judge John P. Cronan issued the order on April 28, 2025.
The detailed version
- BKNS Management LLC v. Frysta Management LLC · No. 1:24-cv-03631
- John Cronan
- Apr. 28, 2025
What the Court Did
The Court scheduled oral argument on Plaintiff BKNS Management LLC’s motion for summary judgment for May 7, 2025, at 10:30 a.m. It anticipated allowing twenty minutes per side.
Issues for Argument
The Court instructed the parties to be prepared to address the application of Sumner v. People, a New York Court of Appeals decision, to this matter. The parties also were directed to address whether a genuine dispute of material fact exists about whether the $125,000 late fee is a cover for usury—that is, an unlawful interest charge—assuming the promissory note is not usurious on its face.
Disposition
The opinion is an order scheduling oral argument and identifying issues for discussion. It does not state a ruling on BKNS Management LLC’s summary-judgment motion or decide whether the promissory note or late fee violates New York’s usury law.
Read the full 1-page opinion on CourtListener, the free public archive maintained by the Free Law Project.