HUNTINGTON – A man is suing Mountain Heritage Resources after he claims it failed to abide by its investment contract with him.
In October 2012, Paul A. Short, an agent of Mountain Heritage Resources and Mountain Heritage Coal Co., offered Timothy M. Peasak an investment in Mountain Heritage Coal Co. and in coal shipped by the defendants, according to a complaint filed Dec. 23 in Cabell Circuit Court.
Peasak claims pursuant to the investment agreement, he would transfer $50,000 to the defendants and Peasak would receive $0.20 per metric ton of all coal sold by the defendants forever.
In discussions with the plaintiff about the investment opportunity, Short, told the plaintiff that a shipment of at least 125,000 metric tons of coal was already scheduled to be shipped sometime in December 2012, according to the suit.
Peasak claims the defendants also stated to him that coal shipments were already scheduled for January 2013 and February 2013 and that several more deals were in the process.
Short provided wiring instructions to the plaintiff specifying the account and Peasak wired $20,000 if the investment funds to the account of Nov. 8, 2012, $20,000 on Nov. 23, 2012, $5,000 on Dec. 4, 2012, and the remaining $5,000 on Dec. 20, 2012, according to the suit.
Peasak claims on Dec. 11, 2013, Short signed a promissory note whereby he promised to pay him $50,000, but he and the other defendants have failed to make all payments required under the promissory note.
The defendants fraudulently misrepresented facts communicated to Peasak and relayed information to him that was false and material, according to the suit.
Peasak claims the defendants violated West Virginia code, which caused him damages.
The defendants breached its contract with Peasak and was unjustly enriched at Peasak's expense, according to the suit.
Peasak is seeking damages in the amount of $47,000 plus earned interest and pre- and post-judgment interest. He is being represented by Stephen J. Golder, Xavier W. Staggs and Jason D. Bowles of Jenkins Fenstermaker PLLC.
Cabell Circuit Court case number: 14-C-930
