WILLIAMSON — Sterling National Bank is suing Davis Contracting & Excavating alleging that the company failed to pay more than $140,000 on a loan.
Davis Contracting & Excavating entered into a loan with De Lange Landen Financial Services for a Kenworth T800 truck in the amount of $175,319.75 in 2017, according to a complaint filed in Mingo Circuit Court.
The last payment the borrower made was in 2019 and the remaining balance on the loan at the time was $144,934.50, according to the suit. The bank claims late charges of $630.16 have since accrued and the total the company owes is $145,564.66.
The company breached its contract with the bank and is now in default. The bank claims it has been damaged as a result of the defendant's breach of contract.
The bank is seeking damages in the amount of $144,934.50 plus late fees and pre- and post-judgment interest. The bank is represented by R. Andrew Hutchinson of Baker Donelson Bearman Caldwell & Berkowitz in Johnson City, Tenn.
Mingo Circuit Court case number: 21-C-48
