HOUSTON – An investor in an oil and gas limited liability company alleges he was paid distributions based on an incorrect interest percentage.
David Balat filed a complaint on Aug. 27 in the Harris County District Court against Encore Realty Ventures II LLC, Encore Kinetic Group II LLC, Mark Kyle and Michael Samouce alleging breach of contract
According to the complaint, the plaintiff alleges that in October 2013, he invested $220,000 in ERV II in exchange for 14.8 percent ownership interest in the company. Over time, he alleges he realized that he was receiving distributions based only on a 12.5 percent interest. He alleges he contacted Kyle and Samouce and was promised the ownership percentage error would be remedied. He alleges he still has not been compensated for the difference owed.
The plaintiff holds Encore Realty Ventures II LLC, Encore Kinetic Group II LLC, Kyle and Samouce responsible because the defendants allegedly failed to perform their duties under the agreements.
The plaintiff seeks monetary relief of more than $200,000 but less than $1 million and such other and further relief to which he may be justly entitled. He is represented by D. John Neese Jr., Leann M. Pinkerton and Amanda Garza of Meade & Neese LLP in Houston.
Harris County District Court case number 1822-CC58014