LAFAYETTE — A financing firm is suing a debtor and guarantors for alleged breach of contract.
TCF Equipment Finance, a division of TCF National Bank filed a complaint on Aug. 31 in the U.S. District Court for the Western District of Louisiana against FraCo LLC, Roddie Trucking LLC and Michael G. Francis, alleging that they failed to comply with promissory notes and security agreements and guarantees.
According to the complaint, the plaintiff alleges that after applying the proceeds of a sale of collateral, the amount of $351,530.51 remains unpaid, and says it is suffering monetary damages from not collecting the remaining deficiency balance. The plaintiff holds the defendants responsible because despite repeated demands, the defendants allegedly failed to pay the deficiency amount.
The plaintiff requests a trial by jury and seeks judgment against defendants individually, in the sum of $351,530.51, plus interest, attorney’s fees and for all costs of these proceedings. It is represented by Stephen L. Williamson and Michael E. Landis of Montgomery Barnett LLP in New Orleans.
U.S. District Court for the Western District of Louisiana Case number 6:16-cv-01243