HOUSTON – Following a hearing that took less than five minutes, a Texas judge granted a motion to dismiss a complaint brought by a lawsuit lender against a California law firm.
Alleging breach of contract, Creative Capital Funding filed suit against Pierce Bainbridge Beck Price & Hecht on April 24 in Harris County District Court.
According to the lawsuit, Creative Capital “purchases future receipts” from companies like Pierce Bainbridge and entered into an agreement with the firm. However, the firm defaulted.
“Specifically, daily debts from Defendant’s bank account have failed or been rejected,” the suit states.
A month after the suit was filed, Virage SPV 2, a lawsuit lender, intervened, asserting that it entered into a number of loan agreements with Pierce Bainbridge.
On May 29, Pierce Bainbridge answered the complaint and filed a motion to dismiss, arguing that the agreement between the parties contains a forum selection clause specifying New York as the proper forum for resolution of disputes.
A second hearing on the motion was held on July 21. The trial court verbally granted the motion to dismiss.
Pierce Bainbridge is represented in party by Ty Doyle, attorney for the Houston law firm of Smyser Kaplan & Veselka.
Creative Capital is represented by Houston attorney Anh Regent.
Case No. 2020-25857