Plaintiff says he is owed $900K from purchase of oil rig

John Suayan, Galveston Bureau Jan. 26, 2011, 4:25am

SS Viking Prospector

GALVESTON - Francisco Moreno claims that Tonci Tomasic of Houston and KTM Services Inc. owes him $900,000 from the purchase of an oil rig, recent court documents say.

According to a lawsuit filed Jan. 18 in Galveston County District Court, Tomasic and KTM borrowed the funds from Moreno to finance the purchase of the SS Viking Prospector last year.

The suit shows the defendants agreed to pay the complainant in full plus interest at 10 percent as well as honor his right to foreclose on the Prospector, which is moored at a Pelican Island shipyard, in the event of default.

Tomasic and KTM breached the terms of the promissory note and have defaulted completely by not paying any of the $900,000 principle or any interest despite repeated requests to do so, the original petition says.

In addition to the specified monetary damages, a jury trial is sought.

Moreno is represented by attorney Obel De La Cruz of Houston.

The case has been assigned to Galveston County 212th District Court Judge Susan Criss.

Case No. 11-cv-0068

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