GLENVILLE — A bank is suing an energy business, alleging breach of promissory note.
Calhoun County Bank Inc. filed a complaint June 19 in Gilmer Circuit Court against Phares Energy Services Inc., alleging the borrower failed to comply with the provisions of the contractual agreement.
According to the complaint, on Aug. 17, 2015, Phares Energy executed a promissory note to the bank in the principal amount of $19,065. The suit says the defendant has been in default on the note since June, 6, 2016.
The lawsuit states the balance of $17,627.88, including interest and late charges, remains due and owing. The plaintiff alleges Phares Energy Services has failed to pay the required monthly payments and the remaining indebtedness as agreed.
Calhoun County Bank seeks trial by jury, judgment for the amounts due and owing, plus reimbursement and all other just and proper relief. It is represented by attorney Leslie L. Maze of Elizabeth.
Gilmer Circuit Court case number 17-C-16