West Virginia Record

Tuesday, September 17, 2019

Loan borrower allegedly failed to make monthly payments

Lawsuits

By Noddy A. Fernandez | Jul 9, 2018


WINFIELD — A national banking association is suing customers, alleging breach of contract in failing to pay more than $100,000.

City National Bank of West Virginia filed a complaint in Putnam Circuit Court against Trademark Enterprises, LLC and Dennis Kyle, alleging that the defendants defaulted under the terms and provisions of the promissory note by failing to make payments owed to the bank.

According to the complaint, on Sept. 23, 2007, parties entered into a "lender" and "borrower" agreement where CNB loaned loan the principal amount of $267,750 to Trademark, which would start making monthly payments beginning Oct. 26, 2007. 

However, the bank says, despite promises of monthly payments, the defendants defaulted payments, plus interest on each day that the note remains unpaid. 

The plaintiff alleges Trademark Enterprises and Kyle have failed to pay to CNB the full amount due and payable pursuant to the note when the amount became due and payable.

City National Bank of West Virginia seeks trial by jury, payment of $102,291.77 plus any interest accrued, pre- and post-judgment interest, cost of action, attorney fees, and all other appropriate relief. It is represented by attorney Peter J. Raupp of Steptoe & Johnson PLLC in Charleston.

Putnam Circuit Court case number 18-C-104

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Putnam Circuit Court Steptoe and Johnson LLP

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