NEW ORLEANS – Two local storage companies claim they are owed close to $900,000 by competitors.
PPF Safeguard LLC and Safeguard Storage Properties LLC filed suit against BCR Safeguard Holding, LLC, JAC Safeguard Holding LLC, and Safeguard Development Group II, LLC in the Orleans Parish Civil District Court on Feb. 25.
On Sept. 19, 2014, the plaintiffs claim they attained a “money judgment” via the Supreme Court of the State of New York for the principal sum of $902,143.85. The defendants were allegedly ordered make payments of $566,648.60, $334,290.25 and $1,205 with 9 percent annual interest.
However, the defendants have allegedly only made two separate payments of $3,021.99 and $671.52, leaving $898,450.34 of the total judgment unpaid.
The plaintiffs allege that failure to pay constitutes a breach of Louisiana Code of Civil Procedure Article 2253 wherein the defendants' property can be seized for failing to pay their outstanding debt.
“In the specific context of money judgment, the judgment ‘may be executed by a writ of fieri facias directing the seizure…of property of the judgment debtor,” the lawsuit states
The petitioners are represented by R. Patrick Vance, Edward D. Wegmann, Mark A. Mintz and Tyler J. Rench of Jones Walker LLP.
The case has been assigned to Div. E Judge Clare Jupiter.
Case no. 2015-01708.