NEW ORLEANS – A construction company is being sued for allegedly failing to repay a bank loan of more than $66,000.
Can Capital Asset Servicing Inc. and NewLogic Business Loans Inc., successor-in-interest to WebBank, Corp. filed suit against Manuel Mitten in the Orleans Parish Civil District Court on Feb. 18.
The defendant, Mitten, is the primary owner of Ramm Construction Group LLC (RAMM) located at 1950 Abundance St. in New Orleans. On Oct. 23, 2013, the petitioner agreed to loan $100,000 to the defendant in exchange for $130,000 known as the “repayment amount.” Mitten claimed RAMM needed the funding for working capital.
Mitten also accepted a personal guarantee allegedly promising to reimburse WebBank for the full amount in the agreement, $130,000. On Feb. 11, 2014, the defendant purportedly defaulted on the agreement, failing to compensate the plaintiff for the exact amount in the contract.
The plaintiff is represented by L. Phillip Canova Jr. and Louis W. Delahaye of Canova and Delahaye, A Professional Law Corporation.
The case has been assigned to Div. L Chief Judge Kern A. Reese.
Case no. 2015-01449.