SHREVEPORT – A California-based financial institution alleges two Claiborne Parish residents were guarantors for a loan that has not been paid in full and seeks the remaining balance.
Bank of the West filed a complaint on July 26 in the U.S. District Court for the Western District of Louisiana against Danny K. Prince and Steven C. Gantt citing a master lease between the parties.
According to the complaint, the plaintiff alleges that on Nov. 26, 2014, it entered into a security agreement and assignment of lease with Summit Funding Group Inc. The principal obligor, GES Gladiator Energy Services Texas, allegedly defaulted in paying installments. As of April 30, after crediting all payments made by Gladiator Energy Services, the plaintiff alleges the balance of $59,458.23 remains unpaid.
The plaintiff holds Prince and Gantt responsible because Gladiator Energy Services allegedly failed to pay the installment due on Feb. 1 and all subsequent installments due thereafter and the defendants are the guarantors.
The plaintiff requests a trial by jury and seeks judgment be entered in its favor for full amount due, attorney fees and all costs of this proceeding. It is represented by M. Thomas Arceneaux and B. Slattery Johnson Jr. of Blanchard, Walker, O'Quin & Roberts in Shreveport.
U.S. District Court for the Western District of Louisiana, Shreveport Division Case number 5:16-cv-01098