Georgia Court of Appeals
J.P. Carey Enterprises, Inc. v. Cuentas, Inc., F/K/A Next Group Holdings, Inc.
A21A0703
October 12, 2021
Affirmed In Part/Reversed In Part
Automated case summary
What the court decided
The Georgia Court of Appeals held that a convertible note's default provisions are unenforceable penalties rather than liquidated damages. The Georgia Court of Appeals reversed the trial court's ruling on waiver of the default-interest provision while affirming its decision to strike an expert witness affidavit.