Bank seeks repayment of $200K in loans

By Kelly Holleran | Aug 21, 2012

A bank has filed suit against the Jefferson County corporation that it claims failed to repay more than $200,000 worth of loans.

Wells Fargo Bank claims its successor, Wachovia, loaned $50,447.12 to defendant Statewide Consolidated Community Development Corp. on July 28, 1999.

Again, on Feb. 10, 2006, Wachovia loaned Statewide $26,680 and issued the company another promissory note on May 16, 2005, worth $116,790, according to the complaint filed Aug. 8 in Jefferson County District Court.

On June 24, 2002, Wachovia loaned Statewide $34,200; Statewide received a $60,000 from Wachovia on Aug. 21, 2003; and the bank issued a $67,000 promissory note on May 21, 2002, the suit states. Finally, on April 26, 2006, Wachovia issued a note for $57,600, the complaint says.

However, Statewide has failed to repay the full value of the notes, even though the bank has demanded payment, Wells Fargo claims.

"By reason of the above-described notes, Defendant was indebted to plaintiff as of July 24, 2012, in the total amount of $244,173.66," the suit states.

In addition to the money it claims it is owed, Wells Fargo is seeking attorney's fees of no less than $15,000, plus pre- and post-judgment interest, costs and other relief the court deems just.

Marc P. Henry of Henry and Fuller in Beaumont will be representing it.

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

Case No. E192-822

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