WINFIELD – A Putnam County company is alleged to owe more than $1.5 million on three loans.
Town Square Bank filed a complaint in Putnam Circuit Court against Sowards Oil Field Services Inc., Pamela Bowen and William W. Wynkoop alleging breach of promissory notes.
According to the complaint, Sowards Oil Field Services executed three notes in 2016 with the plaintiff for a total of $1.7 million that were guaranteed by Wynkoop and Bowen. The plaintiff alleges the defendants have defaulted on the loan.
The plaintiff holds Sowards Oil Field Services Inc., Bowen and Wynkoop responsible because the defendants allegedly failed to pay principal and interest owed under the notes, failed to make collateral available to plaintiff as requested and failed to advise plaintiff of the exact location of the collateral.
The plaintiff seeks judgment against defendants for principal amounts of $133,053.05, $1 million and $497,593.76, plus interest and late charges, cost of charges, attorney's fees and further relief as the court deems just. It is represented by Robert M. Sellards and Randall L. Saunders of Nelson Mullins Riley & Scarborough LLP in Huntington.
The case has been assigned to Circuit Judge Phillip M. Stowers.
Putnam Circuit Court case number 18-C-105