First, I would like to thank all the players who contributed comments and information to assist in this case. Second, I will begin by listing all the information I have gathered, the facts of this case and my reason for the ruling below.
@PrankStarREE accepted a loan from dkjcfarms of $2,240,000 with a 5% daily interest rate. This loan was finalized and approved on November 21, 2018. On November 22, 2018, dkjcfarms gave yacht2 the region to
@PrankStarREE in trade of him paying $6,000,000 before two months. The interest on this agreement was 5% also.
@PrankStarREE has admitted that he used this $2,240,000 loaned by him to use for his real estate
@PrankStarREE has also admitted on this thread to selling a yacht in which he owed $6,000,000 on for $400,000 which in itself the selling part was approved by the agreement however, I can not find any reasonable reason why a player would sell a yacht for $400,000 knowing that they owe 6m on it. Without interest (meaning how much prankstar originally owes without dk making a profit but getting his money back) is $8,240,000. This amount is very large for a player (prankstar) who currently does not have lots of money. However, it is not an excuse not to pay back loans and or make questionable decisions such as selling a yacht for $400,000. Another issue is of the interest rates of this agreement. Without interest rates, Prankstar owes $8,240,000 meaning this is what dk lost. Interest on this agreement is profit dk would have made. At this moment the interests on this agreement is over $12,000,000+. It is unlikely any player would be able to come up with this money for any circumstance this quick. In fact, it could take a year or more for a player who has not developed a financial plan to earn money on the server. In my ruling below dk will get back what he lost but I find no reason why I should grant $12,000,000+ in profit to a player over an agreement who is inactive and who has said he is leaving/left the server. I also don’t see a good reason to bring $12,000,000 into the economy through methods that could be used to gain this money.
Ruling:
1)
@PrankStarREE you owe $8,240,000 to dkcfarms (
@dkjcfarms will get the money and the plots until
@Nico can get him to message me saying Nico gets this) However, due to your history of loans and the fact that you earn money that could be used to pay back loans and spend it on bounties, bails, houses, and items your house a45 will be transfered by an admin to the ownership of dkjcfarms worth $140,000 meaning you still owe $8,100,000.
2) The interest rates in the loans are voided because of the reasoning behind the ruling. Dkjcfarms will get all his money back he lost but will just not make a $13,000,000 profit.
3) @PrankStaree I refer you to court case guidelines made by Kiri.
If you deny to comply, you will be temp-banned and be required to comply forcefully. I expect you to make a full effort at paying this money back and not wasting it on items, properties, bails, and bounties. I understand it will take awhile for you to pay this back so don’t freak out about the amount however I don’t expect to see you placing large bounties on people while you owe someone 8m+
4) I would like an update from Prankstar in around 1-2 weeks to see how much you have earned/payed back. Both parties I request keep me in the loop of things so we can settle this once and for all.
Case closed waiting on approval