A bank is set to receive more than $1 million after a court in another state determined that various companies defaulted on a loan.
Midwest Bank Centre filed a notice of registration of foreign judgment from another state May 15 in Madison County Circuit Court against Oak Woods, Robert T. Bellistri, Judith Bellistri, Richard J. Infortunio and Cheryl P. Infortunio.
Midwest had filed a complaint in February alleging Oak Woods had borrowed $1.1 milliion on Sept. 5, 2009; $130,000 in August 2006; and $515,475 on Sept. 16, 2005.
However, Oak Woods has failed to make payments when due and now owes $424,180.64 on the 2009 note; $94,861.26 on the August 2006 note; and $201,112.86 on the September 2005 note, according to the complaint.
The remaining defendants promised repayment of the borrowed money, but have since failed to make the required payments, the suit states.
The court has demanded that Oak Woods and the remaining defendants pay the money owed to the bank.
Brandon A. DeWitt of Behr, McCarter and Potter in St. Louis represented it.
Madison County Circuit Court case number: 12-L-677.