Suit seeks return of earnest money over canceled contract

By Lhalie Castillo | Jul 26, 2017

A Wisconsin company alleges an O'Fallon company owes it money after the cancellation of a contract.

EAST ST. LOUIS - A Wisconsin company alleges an O'Fallon company owes it money after the cancellation of a contract.

Chase O'Fallon LLC filed a complaint on July 18 in the U.S. District Court for the Southern District of Illinois against CLMP No. 1 LLC, seeking declaratory judgment and alleging breach of contract.

According to the complaint, Bear Capital LLC and the defendant entered into a contract for the purchase of an O'Fallon property for $1.7 million. The purchase agreement was later assigned from Bear to the plaintiff, the suit states.

The suit alleges the plaintiff later terminated the agreement in June and requested the return of the earnest money per the terms of the purchase agreement. The plaintiff alleges the defendant has not returned the money.

The plaintiff seeks an order determining that the purchase agreement is terminated, award for actual damages of no less than $75,000, attorney's fees, costs and any further relief as the court deems just and proper. 

It is represented by Matthew A. Jacober and Emily E. Cantwell of Lathrop & Gage LLP in Clayton, Mo.

U.S. District Court for the Southern District of Illinois case number 3:17-cv-00747

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Lathrop & Gage LLP U.S. District Court for the Southern District of Illinois

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