NEW ORLEANS – A bank alleges that the owner of vessel with a hailing port of New Orleans has defaulted on a loan.
United Community Bank filed a complaint on June 26 in the U.S. District Court for the Eastern District of Louisiana against M/V Baseline Explorer alleging failure to pay.
According to the complaint, the plaintiff alleges that on Aug. 27, 2013, defendant's owner Mr. Ed LLC executed to Community Bank a promissory note in the principal amount of $3.4 million. The suit states that the plaintiff is the successor to Community Bank.
As of June 23, 2017, the principal in the amount of $3,102,350.09 allegedly remains due and owing.
The plaintiff holds M/V Baseline Explorer (Mr. Ed LLC) responsible because the defendant allegedly failed to make any payment due since Aug. 11, 2016.
The plaintiff seeks judgment in rem against the defendant in the full amount due as set forth herein, plus interest, costs, expenses and attorneys’ fees and all further relief which it may deem just and proper. It is represented by William C. Baldwin, Mark A. Mintz and Catherine C. Darden of Jones Walker LLP in New Orleans.
U.S. District Court for the Eastern District of Louisiana case number 2:17-cv-06190