Oh, Shia LaBeouf, whatever will we do with you? After seemingly suffering a break from reality and then launching his “performance art” exhibition debut earlier this month in Los Angeles, you’d think things would be quieting down in his world… but alas, you’d be wrong. This time, however, the story isn’t really about him – it’s about his Uncle Barry, who apparently borrowed $800,000 from Shia and never repaid it. Well, now he has to, according to a Manhattan judge!
Manhattan Supreme Court Justice Eileen Bransten rejected Barry Saide’s arguments that his actor nephew should accept Saide’s interest in four companies in lieu of cash. Saide’s investments were used as collateral for the 2009 loan.
“The terms of the note are clear and the amount due and owing … is forth in the note,” Bransten wrote in a decision signed Monday but posted Wednesday.
Saide, who is a maternal uncle, will have to pay interest of as much as 9% in accordance with the terms of the deal. The agreement required Saide to repay the loan in 15 installments of $53,333 but Bransten noted that Saide never repaid a dime.
Well, that seems fair. You know what they say: mo’ money, ‘mo’ problems!