EDWARDSVILLE – Finley Flooring in Alhambra is being sued for breach of contract for allegedly failing to make payments.
Plaintiff Itria Ventures, LLC filed a lawsuit in the Madison County Circuit Court against defendants Finley Flooring, LLC and Anthony M. Finley, citing breach of contract.
According to the lawsuit, the plaintiff is a commercial finance company that purchases future accounts receivable. The lawsuit states that on March 11, the plaintiff entered into a Future Receivable Sales Agreement (FRSA) with the defendants to purchase $100,800 worth of future accounts receivable for $80,000 and that the agreement was secured by Finley's current and future assets. Under the agreement, Finley was required to remit weekly payments of $2,100 to the plaintiff and has failed to do so, constituting a breach of contract. The plaintiff states that the defendant currently owes $76,138,89 on the FRSA.
The lawsuit also states that the plaintiff entered into a second FRSA with the defendants to purchase $15,000 worth of future accounts receivable for $12,000. Under the second agreement, Finley was required to remit weekly payments of $375 to the plaintiff and has failed to do so. The suit states that the defendant currently owes $13,200.00 on the second FRSA.
Finley signed a Guaranty of Performance in both FRSAs.
The plaintiff is asking the court to enter a judgement awarding damages for $76,138,89 and $13,200, along with attorney fees, court costs, and any other relief the court deems proper. Itria Ventures is represented in this case by attorney Daniel Scheeringa of Gutnicki LLP in Skokie.
Madison County Circuit Court case number 2022LA000818