Former Kully Construction owner sues business buyer on breach claims
A former St. Clair County business owner claims the Swansea woman who bought his construction company only paid half of what she promised.
Harold Rosen filed a lawsuit May 26 in St. Clair County Circuit Court against Cheryle Pratt.
Rosen says he owned and operated Kully Construction LLC until October 2010 when Pratt agreed to buy the company. Rosen says the two agreed to a purchase price of $100,000 – half of which would be due at the time of the sale. The seller says Pratt agreed to pay the second half by Dec. 2.
Rosen says Pratt made the first $50,000 on Oct. 22, the day he signed ownership of Kully Construction over to her. He says Pratt gave him a second check in the amount of $50,000 in December.
Rosen says he deposited the check into his bank account but learned a few days later that the payment had been drawn on a closed account. Rosen says he contacted Pratt who allegedly told him she "knowingly closed the account so that the check would not clear and funds would not transfer."
Rosen says Pratt has ignored multiple demands for payment. He accuses the buyer of a breach of contract and deceptive practices. He is asking to be awarded damages in the amount of at least $100,000 along with court costs.
Attorney Alan S. Mandel of St. Louis is representing Rosen.
St. Clair County Circuit Court Case No. 11-L-249