HOUSTON – Frost Bank is suing a local law firm in response to what it asserts was a fraudulent transfer, recent Harris County District Court records show.
Frost filed a lawsuit against The Law Offices of Steve Bryant PC on Aug. 13 in the Harris County 334th District Court, stating the act in question breached a settlement agreement dating back to 2013.
The bank reportedly obtained a judgment in the amount of $1,098,845 against Steve A. Bryant & Associates, LLP. The agreement required the LLP to perform certain tasks including, but not limited to providing progress reports on contingency lawsuits.
According to the original petition, the LLP “breached that agreement in multiple ways.”
“At some point, the LLP transferred all of its contingency lawsuits to the defendant,” court papers state. “Such transfer was done with the intent to avoid payment of the LLP’s obligations, and such is a fraudulent transfer.”
Consequently, Frost seeks unspecified monetary damages and a jury trial.
It is represented by Justin Strother of the Strother Law Firm in Houston.
Harris County 334th District Court Case No. 2018-53869