HOUSTON - A lawsuit alleging a Houston law firm borrowed millions of dollars and defaulted on the loans was recently filed.
The Equal Access Justice Fund and EAJF ESQ Fund filed a breach of contract suit against McClenny Moseley & Associates, the Moseley Law Group and John Zachary Moseley on Sept.1 in Harris County District Court.
According to the lawsuit, the lenders made loans to MMA, with the initial loan totaling $8,000,000. Additional loans followed, creating amended loan agreements.
“Recently, Plaintiffs learned that Defendants have defaulted on the Loan Agreements’ terms and conditions,” the suit states. “Plaintiffs provided notice to Defendants of such defaults. Defendants have not cured the defaults to date.
“Plaintiffs therefore file this lawsuit to enforce the terms of the Loan Agreements to protect their interests and enforce their contractual rights.”
The suit states that because the parties agreed that the claims are subject to arbitration, the plaintiffs are requesting that the court stay the case and order the parties to arbitrate the dispute.
The plaintiffs are represented by the Spencer Fane law firm in Houston.
Case No. 2023-59211