Madison - St. Clair Record

Monday, December 9, 2019

New York bank alleges lease default

By Carol Ostrow | Jun 5, 2015

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A New York bank is suing a Madison County business and its principals for allegedly defaulting on a lease.

Manufacturers and Traders Trust Co. (M&T), doing business in Illinois, filed a lawsuit on March 11 in Madison County Circuit Court against Greenville Gastroenterology, Peter S. Kim, and Dr. Angle R. Kim, of Highland, alleging breach of contract.

According to the complaint, on May 31, 2007, the defendant was a lessee in a lease agreement with DeLage Landen Financial Services agreement regarding specialized laser equipment. DeLage allegedly assigned its right and title to Court Square Leasing Corporation Dec. 27, 2007, the suit states.

The lawsuit states the lessee ceased making payments after September 2009, and that Greenville Gastroenterology is in default under the terms and conditions of the lease. As of Jan. 28, the lessee allegedly owes a principal amount of $155,948.00; late fees of $6,747.75, professional fees of $39,965.50, plus costs of $1,533.70.

M&T seeks damages against Greenville Gastroenterology of $204,194.95, plus attorney fees and costs. It cites breach of guaranty against Angela Kim, and breach of personal guaranty against Peter Kim. The plaintiff is represented by Ehrenberg & Egan of Chicago.

Madison County Circuit Court case number 15-L-326.

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