MCA Companies Have Won a “Sh*t Ton” of Cases, Judge Declares
A judge in Buffalo, New York has finally had enough with merchants trying to claim that merchant cash advances are loans.
At issue were defendants who sought to overturn a confession of judgment filed by SOS Capital. The Honorable Catherine Nugent Panepinto, who presided over the case, didn’t like that one bit, but what was more offensive to her was the manner in which the defendants tried to overturn it.
With a shit ton of case law already weighing against the defendants for filing an improper motion, Judge Nugent Panepinto went a step further by reminding the defendants that there is no merit to the argument that the subject merchant agreement was a loan.
The defendants, who seemed completely doomed to pay SOS Capital’s attorney fees, were saved only by the charm of their affable Long Island attorney.