Bank alleges motorcycle dealership owes nearly $143,000

By Noddy A. Fernandez | Oct 11, 2018

CHARLESTON — A Walton bank is suing a Pratt motorcycle dealership, alleging it owes nearly $143,000 for breach of contract.

The Poca Valley Bank filed a complaint in Kanawha Circuit Court against A.C.E. Motorsports LLC and Eric Holcomb, alleging the defendants defaulted payments under the terms and provisions of the bank note.

According to the complaint, on Jan. 19, 2017, A.C.E. executed and delivered to Poco Valley Bank a promissory note in the amount of $125,000 that was signed by Holcomb in his capacity as a member of A.C.E. The bank alleges the terms of the agreement consists of the defendants making monthly payments beginning Feb. 20, 2017, through Jan. 20, 2024.

However, Poco Valley alleges the defendants have defaulted on the payments despite demand of the outstanding principal. 

The plaintiff alleges A.C.E. Motorsports and Holcomb have failed to pay the bank the amount due and payable under the note, plus interest, amounting to $142,962.67.

Poco Valley Bank seeks trial by jury, judgment of $142,962.67, plus any interest accrued, pre-judgment interest, costs of action, attorney fees, and all other appropriate relief. It is represented by attorneys Peter J. Raupp and Colton C. Parsons of Steptoe & Johnson PLLC in Charleston.

Kanawha Circuit Court case number 18-C-1051

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Kanawha Circuit Court Steptoe & Johnson PLLC

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