Xerox says Printing Press defaulted on lease agreements
Kyla Asbury Jul. 6, 2012, 4:47am
CHARLESTON -- Xerox Corporation is suing the Printing Press after it claims the business defaulted on two lease agreements.
On Oct. 23, 2008, the Printing Press entered into a lease agreement with Xerox for the purpose of leasing a Xerox DC7000APC and a Xerox EX8000AP and on Dec. 5, 2008, the Printing Press entered into another lease agreement with Xerox for the purpose of a ColorWorks8000, according to a complaint filed June 22 in Kanawha Circuit Court.
Xerox claims pursuant to the terms and conditions of the lease, the Printing Press agreed to pay minimum monthly payments plus any additional print charges and fees at the rates set forth in the leases.
The Printing Press is in arrears in payment under the leases and has breached the terms of the leases, according to the suit.
Xerox claims based upon the defendant's default, Xerox has elected to accelerate the lease payments, which means the Printing Press is indebted to Xerox in total amount of $258,329.11.
Despite multiple requests, the Printing Press has failed and refused to make payment on the balance due, according to the suit.
Xerox is seeking judgment in the amount of $258,329.11 with pre- and post-judgment interest. It is being represented by Robert L. Bandy.
The case has been assigned to Circuit Judge Charles E. King.
Kanawha Circuit Court case number: 12-C-1167