It is not often a Court of Appeal will publish an opinion for the express purpose of reminding attorneys how to do their job properly. But the Second District’s opinion in Red & White Distribution v. Osteroid Enterprises earlier this month did just that. Osteroid provides several lessons to counsel whose clients settle a dispute for payments over time how to properly incentivize timely payments, and what may happen if it is done incorrectly.

Osteroid loaned Red & White Distribution (R&W) $1.8 million. After Osteroid declared R&W had defaulted on the loan, R&W filed a complaint alleging the loan was usurious and unenforceable. Osteroid countered with a complaint alleging breach of contract and sought damages of $1.8 million plus interest and attorney fees. The parties settled all claims in exchange for payment from R&W to Osteroid of $2.1 million in installments over 13 months.

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