PHILLIPI – A Barbour County bank is suing a business and its new owner to recover a $100,000 promissory note that is allegedly overdue.
BCBank Inc. filed a lawsuit May 20 in Barbour Circuit Court against Energy Surveys Inc., Audubon Engineering Solutions LLC, Kurt E. Newbrough and Scott A. Shaver, alleging breach of contract and breach of fiduciary duty.
According to the complaint, on May 6, 2014 the plaintiff and Energy Surveys executed a promissory note for $100,000, plus interest and other charges, payable on demand. The suit claims Energy Survey’s accounts receivables, equipment and certain items of personal property were listed as collateral, and that Newbrough and Shaver personally guaranteed the debt.
However, the suit claims Energy Surveys is insolvent and the other defendants have refused to repay the loan, now totaling $106,636 with interest and late fees. BCBank claims Audubon Engineering Solutions bought all of Energy Survey’s assets (the note’s collateral) at prices below market value in an alleged scheme to avoid full repayment of the loan and to short-pay other creditors.
BCBank seeks a jury trial, compensatory damages, interest and attorney’s fees. It is represented by attorney David M. Thomas of Dinsmore & Shohl LLP in Morgantown.
Judge Alan D. Moats is assigned to the case.
Barbour Circuit Court Case number 16-C-54