By Porter Wright on Commercial lenders will be glad to learn the Supreme Court of Ohio recently released a slip opinion overturning the Eighth District Court of Appeals’ decision in JNT Properties, LLC v. KeyBank, Nat’l Assoc. and concluding that KeyBank’s use of a "365/360" method of interest calculation in a commercial promissory note was not ambiguous. As previously … Continue Reading
By Porter Wright on On November 30, 2011, the Supreme Court of Ohio accepted KeyBank’s appeal from the judgment in JNT Properties, LLC v. KeyBank, Nat’l Assoc., decided by the Eighth District Court of Appeals in Cuyahoga County, Ohio on June 30, 2011. As our July 2011 blog post, available here, explained, this case hinged on whether KeyBank’s use … Continue Reading
By Porter Wright on On June 30, 2011, the Eighth District Court of Appeals in Cuyahoga County, Ohio decided the case of JNT Properties, LLC v. KeyBank, Nat’l Assoc., which dealt with the calculation of interest on a commercial loan by what is known as the “365/360 method.” The court held that KeyBank’s interest calculation method for the loan was … Continue Reading
