Christopher Huber v. Janet Currie

Supreme Court of Vermont·Decided August 7, 2026·No. 25-AP-303·Published

Opinion

NOTICE: This opinion is subject to motions for reargument under V.R.A.P. 40 as well as formal revision before publication in the Vermont Reports. Readers are requested to notify the Reporter of Decisions by email at: Reporter@vtcourts.gov or by mail at: Vermont Supreme Court, 109 State Street, Montpelier, Vermont 05609-0801, of any errors in order that corrections may be made before this opinion goes to press.

2026 VT 36

No. 25-AP-303

Christopher Huber Supreme Court

On Appeal from

v. Superior Court, Addison Unit, Civil Division

Janet Currie et al. June Term, 2026

David A. Barra, J. Lesley B. Deppman of Deppman Law PLC, Middlebury, for Plaintiff-Appellee. Jason Scott Coupal of Landmark Legal, Rutland, for Defendants-Appellants.

PRESENT: Reiber, C.J., Eaton, Waples, Nolan and Drescher, JJ.

¶ 1. WAPLES, J. Defendants Janet Currie, 57 Sanford Street LLC, and Valley Stock Farm LLC,1 appeal from the trial court’s order denying their motion to vacate a partial summary- judgment ruling in favor of plaintiff Christopher Huber on his breach-of-contract claim. The court declined to address defendants’ argument that Huber had unlawful intent to charge an interest rate that exceeded statutory rates. On appeal, defendants argue that the court erred in enforcing the contract and in imposing an equitable lien on their property. Separately, they assert the court

1 In the proceedings below, defendants’ submissions were filed by both Currie individually and defendants collectively. For clarity, this opinion refers to Currie as the filer of defendants’ submissions. This designation does not affect our analysis.

improperly neglected to rule on their claims against third-party defendants. We affirm the court’s judgment in favor of Huber and remand for the court to consider defendants’ third-party claims.

¶ 2. Some background on the applicable statutes is helpful to understand the issues in this case. Title 9, Chapter 4 of the Vermont Statutes sets forth legal rates of interest for various kinds of loans. As relevant here, 9 V.S.A. § 41a(a) provides that “the rate of interest or the sum allowed for forbearance or use of money shall be 12 percent per annum.”2 When a contract “stipulates for the payment of more than lawful interest,” the contract is usurious. Farnsworth v. Cochran, 125 Vt. 174, 181, 212 A.2d 818, 823-24 (1965) (“A contract is usurious when any . . . charge is exacted or required by the lender in excess of the money actually loaned, which, in addition to the interest stipulated, renders the return to the lender greater than the lawful rate of interest.”).

¶ 3. Section 50 establishes consequences for usurious contracts in different situations.3 As relevant here, § 50(b) applies where the lender has “knowingly or willfully ma[d]e any contract, express or implied, that directly or indirectly calls for the payment of any interest . . . in excess of the legal rate as set forth in [§ 41a].” This unlawful intent “knowingly to contract for, or to take usurious interest” constitutes “usury within the prohibition of the law.” Farmers’ Bank v. Burchard, 33 Vt. 346, 370 (1860); see Lowell & Austin, Inc. v. Truax, 146 Vt. 448, 452, 507 A.2d 949, 951 (1985) (clarifying usury exists not when “the [lender] intended to make the charges it did, but” when lender intended “to exact from [the borrower] an amount in excess of what was permitted by law”). “[W]hen the contract on its face is for legal interest only, then [usury] must

2 Additionally, 9 V.S.A. § 41a(b)(7) establishes that for a loan “secured by a subordinate lien against real estate, the interest rate shall not exceed 18 percent per annum.” We need not reach whether 12% or 18% interest applies here because the outcome is the same either way.

3 Section 50(a) allows a party who has paid more than the statutory legal rate to “recover the amount so paid above the legal interest, with interest thereon from the time of payment and all expenses of collection.” Section 50(c) establishes penal provisions, including fines of up to $1000 and one year imprisonment.

be proved”; however, when the “contract, upon its very face, imports usury, as by an express reservation of more than legal interest, there is no room for presumption, for the intent is apparent.” Farmers’ Bank, 33 Vt. at 370. If the borrower establishes usury in violation of § 50(b), the lender may “collect only one-half of the principal” and may not “collect any interest.” 9 V.S.A. § 50(b).

¶ 4. The record establishes the following facts. In 2019, Currie sought to purchase 57 Sanford Street LLC, a company operating a hemp business at 57 Sanford Road in Orwell, Vermont, for $225,000. To secure this purchase, Currie entered a contract with Huber for partial payment in October 2019. The contract provided that Huber would loan Currie $185,000; in exchange, Currie would repay Huber twice the loan’s principal by April 2020, totaling a sum of $370,000 to be paid over approximately six months. This corresponded to an interest rate of 200% per annum. The contract also set forth Currie’s agreement to “draft a mortgage and note to [Huber] to collateralize” his loan with the Orwell property as well as “the proceeds of the hemp harvest.”

¶ 5. After purchasing 57 Sanford Street LLC, Currie—who was then the sole member of both 57 Sanford Street LLC and Valley Stock Farm LLC—transferred ownership of the Orwell property to Valley Stock Farm LLC for no consideration. At no point did Currie repay the agreed- upon sum to Huber or draft a mortgage and note collateralizing Huber’s loan with the Orwell property despite his repeated communications to her.

¶ 6. In June 2021, Huber filed a complaint against defendants. He argued that Currie had breached the contract and that she had fraudulently transferred the Orwell property to Valley Stock Farm LLC. Among other requested relief, Huber sought judgment against defendants for the contract’s full value with interest from the date payment was due and for the imposition of an equitable lien on the Orwell property. Represented by counsel, Currie filed an answer to the complaint, in which she denied all of Huber’s substantive allegations and listed thirteen affirmative defenses, including usury, illegality, and unclean hands. Separately, Currie filed a third-party complaint against plaintiff’s brother, Scott Huber, as well as David Swanson and Canna Source

Group LLC.4 Therein, she alleged that she had entered a contract with Scott Huber, David Swanson, and Canna Source Group LLC, but they breached that agreement, leaving her without means to repay plaintiff Christopher Huber. Currie claimed that she had been defrauded and sought judgment in her favor.

¶ 7. In September 2023, Huber moved for summary judgment. He argued he was entitled to judgment on the breach-of-contract claim because Currie conceded that she failed to repay the $185,000 loan with interest as required by the contract. He also reiterated that Currie engaged in a fraudulent transfer. Currie—self-represented at the time, as her original counsel had withdrawn—opposed Huber’s summary-judgment motion. In her response, she recounted the procedural history, referencing that she had filed an answer with affirmative defenses, but she did not otherwise argue any affirmative defenses or present facts to support them.

¶ 8. In December 2023, the court issued an order granting partial summary judgment to Huber on the breach-of-contract claim. The court concluded that Huber demonstrated that Currie defaulted on repayment of the $185,000 loan and explained that Currie did not properly dispute these facts or support any affirmative defenses with evidence. The court denied summary judgment on the fraudulent-transfer claim because Huber had not established all elements required under the relevant statute. See 9 V.S.A. § 2288(a) (listing requirements to void transfer).

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