First Bank sues to recover promissory note

Kelly Holleran Oct. 27, 2009, 9:00am

A bank claims a St. Clair County corporation and two individuals have failed to pay it more than $200,000 they owe on a promissory note.

First Bank filed a lawsuit Oct. 15 in St. Clair County Circuit Court against Pioneer Steins and Collectibles Inc., Michael E. Robinson and Jeffrey S. Robinson.

First Bank alleges Pioneer Steins executed a promissory note for $300,000 on Oct. 24, 2003. The Robinsons guaranteed the note would be paid in full, the bank claims.

However, Pioneer Steins has failed to make mandatory payments on the note, as have the Robinsons, the suit states.

"There is currently due and owing on the Note the sum of $208,343.26, plus pre-judgment interest accruing after October 9, 2009 and costs of collection, including reasonable attorney fees," the complaint says.

In addition to the amount it says it is owed, First Bank is seeking costs.

David L. Antognoli of Goldenberg, Heller, Antognoli and Rowland in Edwardsville will be representing it.

St. Clair County Circuit Court case number: 09-L-554.

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