Commerce seeks payment on promissory note

By Ann Knef | May 19, 2008

Commerce Bank in Fairview Heights filed suit against Belleville Catering Company and its guarantors Salvatore L. Garanzini, John C. Dimartino, Frank A. Ferrara, Sr. and Frank A. Ferrara, Jr. seeking payment on a promissory note.

According to the suit filed May 13 in St. Clair County Circuit Court, a $288,526.42 note matured on March 14.

"Although duly demanded, BCC has failed or refused to pay the balance due on the note," the complaint states.

Commerce claims that as of May 5, the amount due including attorneys' fees and costs was $293,462.04, consisting of principal in the amount of $286,526.42, interest in the amount of $6,685.62, and late charges in the amount of $250.

Interest continues to accrue at the rate of $59.69 per day for each day after May 5, the complaint states.

Commerce is represented by Cherie K. Macdonald of Greensfelder, Hemker & Gale of Swansea.

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