Man alleges business partner breached contract

Kelly Holleran Nov. 22, 2010, 5:26am

849 Seventh St.

A California man has filed suit against the woman he claims breached their agreement to include him as half-owner of a Beaumont property investment company.

Stephen Hunter claims he decided to form a business -- defendant Ymaan -- with defendant Patricia Lede. Together, the pair would invest in property in Jefferson County and would be equal partners, according to the complaint filed Nov. 15 in Jefferson County District Court.

Since then, Hunter supplied money for Lede to purchase property at 849 Seventh St. in Beaumont, which is known as Brad's. In addition, Hunter supplied the funds to purchase property at 2306 Hazel in Beaumont, the suit states.

In return for Hunter's capital, Lede agreed to work and manage the properties, rent them out and split the income and profits with Hunter, the complaint says.

However, Hunter claims he has since discovered that Lede had corporate paperwork executed in an attempt to provide her with majority ownership and voting control over Ymaan. In addition, he learned that Lede mismanaged the property and has taken money from the rentals for her own use, according to the complaint.

Now, Hunter, Lede and Ymaan face the possibility of losing their properties, the suit states.

Hunter alleges breach of contract, fraud and negligence against Lede and Ymaan.

He is seeking unspecified damages and wants the court to remove Lede as an officer of Ymaan and to order an accounting of the financial transactions of Ymaan and Lede. He is also seeking exemplary and punitive damages, attorney's fees, pre- and post-judgment interest and other relief the court deems just.

Lance Fox of Creighton, Fox, Johnson and Mills in Beaumont will be representing him.

The case has been assigned to Judge Bob Wortham, 58th District Court.

Case No. A188-802

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