BELLEVILLE — A man is suing a holding company, citing alleged refusal to make payments.
Clyde E. Beimfohr filed a complaint on July 5 in the St. Clair County Circuit Court against Seville Holdings LLC and R. Adam Hill, alleging they failed to comply with the agreed contract of the Commercial Promissory Note.
According to the complaint, the plaintiff alleges that on Oct. 22, 2007, he loaned the defendant $200,000 and executed a Commercial Promissory Note stating the defendant will pay in four equal annual instalments of $50,000 a year that will commence a year after the date of the note at the rate of 12 percent per annum.
The plaintiff alleges the defendants failed to make any payments of principal or interest amount, failed to pay the principal and interest under note within 10 days after the date of plaintiff's demand letter.
The plaintiff requests a trial by jury and seeks payment in the amount of $200,000 for the unpaid principal under the note, together with $228,000 of interest, plus attorneys' fees, costs, and expenses and such other relief as the court deems just and equitable.
He is represented by Kurt S. Schroeder of Greensfelder, Hemker & Gale, PC in Belleville.
St. Clair County Circuit Court case number 17-L-352