Bank files lawsuit against entities that failed to repay more than $4M in loans

Kelly Holleran Aug. 22, 2014, 4:52pm

 bank has filed suit against the entities it claims have failed to timely repay more than $1 million loaned to them.

Wells Fargo Bank N.A., as successor to Wachovia Bank, also known as Wells Fargo Bank, filed suit July 28 in the Jefferson County District Court against Bolivar Holdings LLC, James L. Hayes, Thomas W. Harrison and Segue Properties Ltd. 

According to the complaint, the plaintiff loaned $1.5 million to defendant Hayes, who was manager of defendant Bolivar Holdings, on Oct. 11, 2006. It loaned Hayes an additional $1.5 million on Feb. 15, 2006; $890,000 on Dec. 21, 2005; $135,000 on May 11, 2004; and $400,000 on June 8, 2006, the suit states. The loans total $4,4425,000.

Neither Hayes nor Bolivar Holdings have fully repaid the loans, according to the complaint.

Defendant Harrison, who is affiliated with defendant Segue Properties, has also failed to repay the $250,000 Wells Fargo loaned to him on July 20, 2006, the complaint says.

In addition to the money it claims it is owed, Wells Fargo is seeking attorneys' fees, costs and other relief the court deems just.

It is being represented by attorney Terry W. Wood of Beaumont.

Jefferson County District Court case number B195-198

This is a report on a civil lawsuit filed at the Jefferson County District Court. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.

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