Compass Bank sues to recover $150K loan

Kelly Holleran Feb. 6, 2012, 6:26am

Compass Bank has filed suit against the Texas man who it claims failed to repay a loan.

The bank claims it lent MM Interests $150,000 on Aug. 9, 2006. Defendant Michael McCown guaranteed to repay Compass the full value of the loan, including interest, if MM Interests defaulted on it, according to the complaint filed Jan. 30 in Jefferson County District Court.

At some point, MM Interests defaulted on the note. Compass Bank demanded repayment of the money from McCown, but he has failed to reimburse the company, the suit states.

In addition to the money it says it is owed, the bank is seeking other relief the court deems just.

McCown will be represented by Michael A. McCauley of Gary, Thomasson, Hall and Marks in Corpus Christi.

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

Case No. A191-846

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