PMT Montana says it is owed more than $400,000 after Gary Guilford failed to comply with a settlement agreement, according to a lawsuit filed June 4 in Madison County Circuit Court.
PMT says Guilford executed a promissory note of $400,000 on Feb. 27 in order to abide by a settlement agreement. No additional information about the settlement agreement is provided in the lawsuit because it is confidential.
The complaint goes on to say Guilford failed to provide real estate within 21 days of the settlement agreement to secure payment of the promissory note and failed to provide the value of the property within five days.
"As a result of one or more of the above-described defaults, the entire unpaid balance of the Note is now due and payable, to wit, the sum of $407,287.67, plus pre-judgment interest accruing after June 2, 2009, and costs of collection, including reasonable attorney fees," the suit states.
In addition to the money it says it is due, PMT is seeking pre-judgment interest, attorney's fees and costs.
David L. Antognoli of Goldenberg, Heller, Antognoli and Rowland in Edwardsville will be representing it.
Madison County Circuit Court case number: 09-L-563.
Suit filed after party fails to comply with settlement agreement
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