Kelly Holleran Jun. 17, 2013, 9:49pm

A bank claims a medical supply company defaulted on its payments and owes the bank more than $300,000.

CommunityBank of Texas filed a lawsuit June 7 in Jefferson County District Court against Quality Medical Equipment and Supply.

In its complaint, CommunityBank alleges it loaned money to Quality Medical Equipment and Supply in Beaumont, which was secured by all of its business assets, plus a life insurance policy through United of Omaha. Since then, however, Quality Medical has defaulted on its payments, according to the complaint.

“There is currently due the principal sum of $356,042.44, plus accrued interest in the amount of $6,230.74 along with late payments totaling $2,601,” the suit states.

In its complaint, CommunityBank alleges breach of contract against Quality Medical.

In addition to the money it claims it is owed, CommunityBank seeks pre- and post-judgment interest at the highest legal rate, at least $6,000 in attorney’s fees, costs, a foreclosure on its security interest and other relief the court deems just.

John Pat Parsons of Lindsay, Lindsay and Parsons in Beaumont will be representing it.

Judge Donald Floyd, 172nd District Court, has been assigned to the case.

Case No.  E194-427

More News