A Harris County man is suing a League City man, alleging breach of contract by not returning certain retained funds.
Gregory Frankfort filed a complaint June 17 in U.S. District Court, Galveston Division against Brian Stephens of League City, alleging breach of contract.
On Oct. 19, 2012, the complaint states, the parties entered into an agreement in which Stephens was to buy The Monkey Bar in Kemah and its assets and properties from Frankfort, and Stephens would pay the purchase price over a period of time until Feb. 15, 2013, when the balance was to be paid in full.
Then, on April 20, 2013, the parties entered into a new agreement that called for $70,000 to be retained by Stephens against any liquor or income tax due from The Monkey Bar, the suit says.
The complaint alleges that despite Frankfort attempting to get Stephens to resolve liquor and income tax issues and return any remaining funds, the defendant has not resolved these issues or returned any of the retained funds to the plaintiff.
Frankfort seeks to recover a $7,000 deposit, interest, attorney fees and court costs. Frankfort is represented by attorney Randy L. Wooten of Houston.
Galveston County Circuit Court case number cv-0074476.