A Madison County man claims he went into more than $38,000 worth of debt to buy equipment for his former employer but was never repaid.
Seth Redman filed a lawsuit Oct. 13 in Madison County Circuit Court against Compass Rose Events, formerly known as True North, and Scott Larson.
Redman was working as vice president of operations of a corporate event planning company called The Fun Company when he used his credit card to pay $38,500 for business expenses, according to the complaint.
Later, defendant Compass Rose Events agreed to purchase The Fun Company's assets and agreed to pay off the $38,500 The Fun Company owed Redman, the suit states.
On Nov. 1, 2006, The Fun Company was sold to Compass Rose Events. Around that same time, Redman was hired as a salesman for Compass Rose Events, the complaint says.
After several months passed, Redman still had not been reimbursed any of the $38,500 he was owed. So, Redman claims he finally approached Compass Rose C.E.O. Scott Larson to demand payment.
"Plaintiff explained that since the $38,500 had been paid for by him on his personal credit card, he had incurred interest and other expenses that had inflated the original $38,500 to over $50,000," the suit states.
Larson agreed to meet with Redman and Compass Rose's C.F.O. and accountant. During the April 2007 meeting, it was agreed that Compass Rose would begin making installment payments to Redman of $5,000 per month, according to the complaint.
On Aug. 6, 2007, Redman received one payment of $3,500. However, he has not received any payments since then, the complaint says.
In the four-count suit, Redman is seeking a judgment of more than $100,000, plus other relief the court deems just.
Gray M. Magee III of Wood River will be representing him.
Madison County Circuit Court case number: 09-L-1082.