Madison - St. Clair Record

Thursday, December 5, 2019

Schantz MFG allegedly failed to repay loan

Lawsuits

By Angelica Saylo Pilo | Jul 3, 2018

Late 04

EDWARDSVILLE – A lender alleges a Highland entity failed to repay a loan.

FC Marketplace LLC filed a complaint on June 21 in the Madison County Circuit Court against Schantz MFG Inc. and Michael Schantz alleging failure to pay.

According to the complaint, the plaintiff alleges that on Feb. 18, 2016, the plaintiff financed a loan to Schantz MFG and guaranteed by Schantz for use in their business operations. The suit states the loan when into default on April 25.

The plaintiff holds Schantz MFG Inc. and Schantz responsible because despite numerous demands for payments, the defendants allegedly failed and refused to make payments for the said amounts.

The plaintiff seeks judgment against the defendants, jointly and severally, in the amount of $407,677.39, plus attorney fees, costs and expenses. 

It is represented by Kenneth R. McEvoy in Ottawa.

Madison County Circuit Court case number 18-L-820

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Organizations in this Story

Madison County Circuit CourtKenneth R. McEvoy Law Firm

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