Two property holding companies sued for not repaying short-term loan

Kyle Barnett Jan. 25, 2012, 4:12pm

NEW ORLEANS – A New Orleans lender is suing two property companies for not repaying a loan.

Ariel B filed suit on Jan. 16 in the Orleans Parish Civil District Court against American Property Consultants and Citywide Development Services.

The plaintiff alleges the defendants borrowed $163,121.87 for a two-year period with 20 percent annual interest to be charged. The defendants are alleged to have not repaid the loan at the end of the agreed upon period.

Damages sought include the remaining balance of the loan with interest and attorney's fees.

Ariel B is being represented by New Orleans-based attorney David W. Bernberg.

The case has been assigned to Division L Judge Kern A. Reese.

Case number 2012-00525

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