Fonco, VJM, and principals sued over allegations of default loan payments

By Robbie Hargett | Aug 31, 2015

AMSP Investments is suing two limited liability corporations and their principals over claims they have defaulted on credit extension payments.

AMSP Investments Inc. filed a complaint Aug. 19 in Jefferson County District Court against Fonco LLC, VJM Resources LLC, Van McCarson, and Allison McCarson, alleging breach of contract.

The complaint alleges that AMSP loaned a credit extension of $90,000 to Fonco, guaranteed by the McCarsons and VJM.

The contract further alleges that the defendants have defaulted on their payments of the credit extension and still owe approximately $60,712, and that the defendants improperly disposed of and converted AMSP's collateral interest in the Fonco assets.

AMSP seeks monetary recovery between $60,000 and $100,000, injunctive relief, and attorney fees and court costs.

The plaintiff is represented by James E. Wimberley of the Law Offices of James Wimberley in Nederland.

Jefferson County District Court case number A-197454.

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