EAST ST. LOUIS – A California banking association alleges a Kentucky corporation failed to pay for equipment it leased.
CIT Bank, National Association filed a complaint on Nov. 29 in the U.S. District Court for the Southern District of Illinois against All Purpose Steel Construction Inc., alleging breach of contract.
According to the complaint, the plaintiff alleges that in December 2015, the parties entered into a lease agreement wherein the plaintiff leased various equipment to the defendant. The suit states that pursuant to the agreement, the defendant was required to make 46 monthly payments amounting to $17,236.06 per month.
The plaintiff holds All Purpose Steel Construction Inc. responsible because the defendant allegedly failed to make the required payments due as of April 16 and thereafter, failed to comply with its contract obligation despite demands and notification and failed to return equipment leased.
The plaintiff seeks declaration that it is entitled to immediate possession of the equipment, award of damages, attorneys' fees, costs and any other relief as the court deems just and equitable.
It is represented by Matthew A. Olins and Mark A. Bradford of Duane Morris LLP in Chicago.
U.S. District Court for the Southern District of Illinois case number 3:17-cv-01293-DRH-SCW