Commercial property owner seeks more than $4 million over unpaid promissory note
Robert E. Tarcza
NEW ORLEANS – A New Orleans property owner is suing a New Orleans property manager for not paying a promissory note in full.
Fire Hotel, IV filed suit against Broadway Manager in the Orleans Parish Civil District Court on Sept. 21.
Fire Hotel claims it entered into an agreement with Broadway Manager on Jan. 31, 2007 to pay a promissory note in the amount of $2,777,778 over a 48-month period.
The plaintiff alleges the defendant asked for numerous extensions on payment on the note and had only paid $718,068 in interest as of Sept. 21, 2012. Fire Hotel asserts that it is now owed $4,200,369 on the note, which Broadway Manager has refused to pay in full.
The defendant is accused of breach of contract.
Damages in the amount of $4,200,369 plus attorney's fees and court costs are sought by the plaintiff.
Fire Hotel is represented by Robert E. Tarcza of New Orleans-based Tarcza & Associates.
The case has been assigned to Division G Judge Robin M. Giarrusso.
Case no. 2012-09006.