Borrower accused of breaching loan agreement

By Angelica Saylo Pilo | Jan 31, 2019

EDWARDSVILLE — A man is suing a borrower for allegedly breaching a loan agreement. 

Eddie Keturakis filed a complaint on Jan. 15 in the Madison County Circuit Court against Herman Reiser, alleging he failed to perform his contractual obligations.

According to the complaint, the plaintiff alleges that on Nov. 12, 2017, he agreed to loan the defendant $30,000 with a promise to pay the same in monthly installments. The loan was secured by the defendant's diesel rig as partial collateral. 

According to the complaint, as of December 2018 the amount of $13,693.51, including interest, remains due. 

The plaintiff holds Reiser responsible because the defendant allegedly failed to make timely and complete monthly installment payments.

The plaintiff requests a trial by jury and seeks an order for the judicial sale of the collateral and award for damages in excess of $50,000, plus costs, attorney's fees, interest and all other relief that is just and proper. He is represented by Brian R. Kalb of Byron Carlson Petri Kalb LLC in Edwardsville.

Madison County Circuit Court case number 19-L-0055

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Byron Carlson Petri & Kalb LLC Madison County Circuit Court

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