Scott Credit Union named in anticipatory breach suit
Scott Credit Union is being sued by a woman claiming entitlement to an additional $250,000 from her deceased husband's Deferred Compensation Account.
Charlotte Bright, represented by Richard J. Pautler and Dan Lee of Thompson Coburn, claims she has been damaged by the credit union's anticipatory breach of contract.
According to the complaint filed June 26 in St. Clair County Circuit Court, $125,000 was to be deposited into James Bright's account on Jan. 1, 2002 through 2007.
James Bright was a Scott Credit Union employee until the time of his death on Jan. 22, 2005.
Charlotte Bright claims that Scott Credit Union would be relieved of its obligation to make the annual payments only if her husband had voluntarily terminated his employment or if he was terminated for cause.
She received $500,000 after his death, according to the complaint.
Charlotte Bright claims Scott Credit Union is obligated to pay her all monies in the Deferred Compensation Account as soon as reasonably practical on or after Jan. 1, 2008.
"SCU has clearly and unequivocally asserted that it will not perform its obligations under the Agreement when they become due, i.e. that it has not and will not make any payments into the Deferred Compensation Account subsequent to James's death and that it will not pay any further sums to Charlotte from the Deferred Compensation Account," the complaint states.