GALVESTON — A Liberty County man is suing a Baytown bar and grill company, alleging he was not reimbursed for his portion of a loan from a failed business.
Joe S. Ray filed a complaint July 22 in Galveston County District Court against Gulf Coast Bar and Grill Co., alleging failure to pay and breach of contract.
According to the complaint, Ray was approached by Oscar I. Smith who formed Gulf Coast Bar and Grill in 2017 for the purpose of investing in the business that was represented to be a partnership. The plaintiff says he agreed and sent a wire transfer of $26,000 to the defendant and became a 10% shareholder.
The suit alleges Gulf Coast Bar and Grill gave very little financial information to the plaintiff and the bar eventually failed and closed. Since the opening of the bar, Ray says he had invested a total of $56,000 in the business.
The plaintiff says he has requested the financial records of Gulf Coast Bar and Grill but the defendant has refused to do so. The plaintiff alleges he has also not been returned the $56,000 that he loaned to the defendant and seeks full reimbursement.
Ray seeks monetary relief of up to $100,000, court costs, interest, a full reimbursement of the loan. He is represented by attorney Craig W. Saunders of Houston.
Galveston County District Court case number 19-CV-1321