GALVESTON - Claiming he was never compensated for performing real estate-related services, Gerald Krunop has filed $6.9 million suit against Falcon Interests Realty Corp. Inc.
Krunop alleges that he worked to secure various loans and other financial opportunities in the amount of $20 million for the defendant to develop a couple of tracts of real property in Galveston County from December 2009 to last month, but did not receive income.
His suit was filed Oct. 4 in Galveston County District Court.
"Notwithstanding the available financing secured by the plaintiff for the benefit of the defendant, upon terms that were satisfactory and which had been specified by the defendant, the defendant, for reasons known only to them, chose not to consummate the intended funding agreement," court papers state.
The plaintiff argues that his work gave the defendant benefits which enabled the latter to avoid paying monthly note obligations as well as accept or decline the $20 million funding proposal in question.
According to the suit, the defendant turned down all proposals.
"The defendant, by their own arbitrary and capricious choice, rejected the loan proposals made by the financiers mentioned although the terms of such proposed funding were acceptable to the defendant," it explains.
The defendant reportedly ceased all dealings with all financiers provided by the plaintiff on Sept. 16.
Krunop ultimately insists that he is entitled to a lien against the real properties in dispute.
He is represented by attorney Don R. Riddle of Houston.
The case has been assigned to Galveston County 212th District Court Judge Susan Criss.
Case No. 10-cv-3816