Oil company sues to recover debt

Steve Gonzalez Nov. 23, 2004, 5:39am

HWRT Oil Co. filed a four-count lawsuit against T-Rex Petroleum, Inc., T-Rex Corp., and Craig and Susan Nesbit in Madison County Circuit Court on Nov. 22 alleging that they are owed $115,771.48.

But the suit seeks to recover an amount in excess of $200,000 to be proven at trial for breach of contract, unjust enrichment as well as attorney fees, prejudgment, and any other relief the court deems just and proper.

Represented by Gary True and Nathan Collins of Burroughs, Hepler, Broom, MacDonald, Hebrank & True, a prominent defense firm in Edwardsville, HWRT alleges T-Rex is in default of its obligations under a credit and guaranty agreement.

T-Rex Petroleum Inc., and T-Rex Corporation are Missouri corporations engaged in the operation of T-Rex Convenience Stores. Craig and Susan Nesbit, the principals of T-Rex, are individuals residing in Farmington, Missouri.

According to the complaint, HWRT claims the Nesbits entered into a guaranty agreement, which among other things provides that guarantors are each primarily liable under the agreement regardless of whether HWRT pursues any of its remedies against T-Rex or any other guarantor.

The agreement also states that any litigation pertaining to the agreements shall be in the Circuit Court of Madison County, and that litigation pertaining to the agreements shall be governed under Illinois law.

The case has been assigned to Circuit Judge Philip Kardis in Granite City.

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