Repayment and Final Satisfaction of Promissory Note (2018–2024) — Dr. Bradley Foerster, Dr. Myria Petrou, Dr. Paul Cronin, and Dr. Aine Kelly

The April 10, 2018 promissory note in the principal amount of $235,000 between Dr. Bradley Foerster and Dr. Myria Petrou and Dr. Paul Cronin and Dr. Aine Kelly was paid in full.
Payments were made over multiple years, followed by a disagreement regarding the method used to calculate interest and the presentation of two competing calculations.
Additional payments were later made in connection with the resolution of Washtenaw County Circuit Court Case No. 18-280-CK, Reynolds/Evans v. Cronin/Kelly.
On January 10, 2024, Dr. Paul Cronin confirmed satisfaction of all payment obligations owed by Drs. Foerster and Petrou.

This post documents the repayment and final resolution of the April 10, 2018 promissory note in the principal amount of $235,000.

Following the disbursements reflected in the prior post, payments were made over time toward the obligation. The record reflects both the payment history and a later disagreement regarding the method used to calculate interest under the note.

1. Payments and Accounting (Late 2021)

By late 2021, payments were being made and tracked. The record reflects requests for confirmation of payments and reconciliation of amounts received.

Exhibit — December 7, 2021 Email Requesting Confirmation of Payments

2. Interest Dispute (May 10, 2022)

On May 10, 2022, concerns were raised regarding the method used to calculate interest under the promissory note, including the timing of interest accrual and the application of payments.

A proposal was made to engage a mutually agreed-upon independent accountant to reconcile the calculations. No agreement was reached.

Exhibit — May 10, 2022 Email Regarding Interest Calculation

3. Competing Calculations (April–May 2023)

Two competing accountings were prepared reflecting different methods of calculating interest under the April 10, 2018 promissory note.

The governing terms are set forth in the original agreement: April 10, 2018 Promissory Note .

Exhibit A — Accounting Prepared by Dr. Bradley Foerster and Dr. Myria Petrou (April 13, 2023)

This accounting reflects interest calculated under the promissory note using a simple, non-compounding methodology applied to principal over time.

Exhibit B — Accounting Prepared by Dr. Paul Cronin and Dr. Aine Kelly (May 21, 2023)

This accounting reflects interest calculated under the promissory note using a methodology applied to the outstanding balance over time, including compounding and timing assumptions reflected in the calculation.

Exhibit B1 — Email Accompanying Accounting (May 21, 2023)

— Paul Cronin and Aine Kelly, Email correspondence (May 2023)

“This has nothing to do with the ‘Nick Fiasco’.”

4. Final Payments (May-June 2023)

The amount of $7,446.60 was paid and received as the remaining balance under the borrowers’ calculation.

Additional payments of $4,706 and $10,300 were subsequently made and received, reflecting the remaining balance under the lenders’ (Paul Cronin's & Aine Kelly's) calculation.

Exhibit — May 30, 2023 Email Confirming Receipt of $7,446.60

Exhibit — June 19, 2023 Email Confirming Receipt of $4,706

Exhibit — June 30, 2023 Email Confirming Receipt of $10,300 and Payment in Full

5. Affidavits (June 13, 2023)

On June 13, 2023, Dr. Bradley Foerster and Dr. Myria Petrou executed sworn affidavits documenting the payments made, the accounting of the obligation, and the circumstances surrounding the final payments.

These affidavits were filed in the Washtenaw County District (18-0531-LT) and Circuit Courts (18-4800AV).

Exhibit — Affidavits of Dr. Bradley Foerster and Dr. Myria Petrou (June 13, 2023)

6. Final Confirmation (January 10, 2024)

On January 10, 2024, Dr. Paul Cronin confirmed that all payment obligations had been satisfied, including the final $25,000 settlement payment associated with Washtenaw County Circuit Court Case No. 18-280-CK (Reynolds and Evans v. Cronin and Kelly).

No settlement agreement associated with that matter has been produced to Dr. Bradley Foerster or Dr. Myria Petrou.

Exhibit — January 10, 2024 Email Confirming Satisfaction of All Payment Obligations

The April 10, 2018 promissory note was paid in full. The record reflects it.

The remaining question concerns funds associated with the August 3, 2017 sheriff’s sale. That record follows.

Related Reporting

Author Image

Brad Foerster, MD PhD

Brad Foerster is a FOIA advocate documenting requests, transparency disputes, and accountability investigations involving public agencies, universities, police oversight, and Russia-Gate related inquiries. His work compiles original documents, timelines, and analysis of public records and institutional responses. Brad is also a board-certified radiologist, author of Town & Gown, and has published over 40 peer-reviewed articles. Brad lives in Potomac, Maryland with his family and is active in the Montgomery County Medical Society and the Takoma Park U.S. & World History Book Club.