Regions Bank filed a breach of contract suit against Justin Warren and Brian Koontz in Madison County Circuit Court March 5, alleging they have failed to repay a $64,000 loan.
Regions claims the defendants executed the promissory note for the loan on Feb. 28, 2007, and have failed to make the agreed monthly payments since September 2007.
According to Regions, as of Feb. 12, Warren and Koontz owe $60,772.80 in principal, accrued interest of $2,420.36 and $156.29 in late charges totaling $63,349.45, plus interest that continues to accrue at a rate of $15.62 per day.
Represented by Deborah Volmert of Belleville, Regions is seeking $63,349.45 plus costs, attorney fees and interest.
The case has been assigned to Circuit Judge Daniel Stack.
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