Community Bank sues to recover $5M note from Rao & Williams
Seeking to recover more than $5 million from a delinquent note, Community Bank of Texas has filed suit against Rao & Williams LLC.
The suit was filed March 28 in Jefferson County District Court and also individually names Anthony Williams, S. Rao-Kothapalli and Williams & Rao LP as defendants.
The plaintiff's petition states that on June 26, 2008, Williams & Rao executed a note in the amount of $5,700,000. The note was modified multiple times.
"The indebtedness has not been paid in accordance with its terms," the suit states. "Plaintiff has made demand for payment, and defendants have refused to pay."
The amount owing is $5,643,561.65.
Community Bank is suing for actual damages and attorney's fees.
The plaintiff is represented by Glenn Steele Jr. of McPherson, Hughes, Bradley, Wimberley, Steele and Chatelain in Port Arthur.
Judge Milton Shuffield, 136th District Court, is assigned to the case.
Case No. D192-241