A bank has filed suit against the Texas company it claims failed to repay more than $1 million they borrowed.
Community Bank of Texas claims it loaned $1,216,714 to defendants Applied Fabrication and Field Services on Sept. 3.
Defendants Calvin and Donna Ayers acted as guarantors on the note, according to the complaint filed May 9 in Jefferson County District Court.
On Oct. 27, Community Bank lent an additional $375,000 to the defendants, the suit states.
However, the notes have not been repaid, the suit states.
"After allowing all just credits, payments, and rebates, as of April 14, 2011, the balance on Note 1 was $1,078,477," the complaint says. "After allowing all just credits, payments, and rebates, as of April 14, 2011, the balance on Note 2 was $28,831."
In addition to the money it says it is owed, Community Bank is seeking pre- and post-judgment interest, attorney's fees, costs and other relief the court deems just.
Glenn H. Steele Jr. and James E. Wimberley of McPherson, Hughes, Bradley, Wimberley, Steele and Chatelain in Port Arthur will be representing it.
The case has been assigned to Judge Gary Sanderson, 60th District Court.
Case No. B189-966