Madison - St. Clair Record

Thursday, August 22, 2019

M&K Chemical Engineering allegedly failed to pay loan in full

By Angelica Saylo Pilo | Dec 5, 2017

EDWARDSVILLE – An Alabama bank claims a Madison County business failed to pay a loan in full. 

Regions Bank filed a complaint on Nov. 15 in the Madison County Circuit Court against M&K Chemical Engineering Consultants Inc. and Stanley M. Meyer, alleging breach of contract and unjust enrichment.

According to the complaint, Regions Bank alleges that on June 24, 2013, it made a loan to the defendants in the amount of $350,000. As of Aug. 8, the outstanding amount of $88,797.33 allegedly remains due and owing. 

The plaintiff alleges the defendants failed to repay the amounts owed pursuant to the loan agreement and failed and refused to turnover or deliver the collateral to the plaintiff.

The plaintiff seeks judgment in the amount of $88,797.33, with accruing interest, late charges and costs and all other legal and equitable relief as the court deems proper. 

It is represented by William W. Asa of Taliana, Buckley & Asa in Edwardsville.

Madison County Circuit Court case number 17-L-1568

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Madison County Circuit Court Taliana, Buckley & Asa

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