NEW ORLEANS – An East Baton Rouge Parish bank alleges a South Dakota man and a South Carolina man did not pay a commercial guaranty.
Business First Bancshares Inc., doing business as Business First Bank, filed a complaint on Aug. 16 in the U.S. District Court for the Eastern District of Louisiana against Michael Hulburt and Daniel J. Rissing alleging that they failed to comply with the Commercial Guaranty agreement.
According to the complaint, the plaintiff alleges that despite amicable demand, it has not received payments for defendants' commercial guaranty in an amount of $1,000,000 each for Progressive Acute Care LLC and its subsidiaries, which filed for bankruptcy. The plaintiff holds Hulburt and Rissing responsible because the defendants allegedly failed to pay the amount due on the notes pursuant to their respective guaranty.
The plaintiff seeks judgment against defendants in the amount of $1,000,000 each, less payments or reductions as a result of distribution from the bankruptcy proceedings of the borrowers and all further equitable relief. It is represented by David L. Guerry, Sharon S. Whitlow and Mark L. Barbre of Long Law Firm LLP in Baton Rouge.
U.S. District Court for the Eastern District of Louisiana Case number 2:16-cv-13871