WAYNE – A Wayne concrete company is facing a lawsuit by Wells Fargo Equipment Finance which is seeking the repossession of equipment due to the alleged default of a loan and security agreement.
Wells Fargo Equipment Finance Inc. filed a complaint in Wayne Circuit Court against Carey Concrete Inc. alleging breach of contract.
According to the complaint, Wayne entered into a combination loan and security agreement on Sept. 5, 2017, with Wells Fargo for the purchase of a Hitachi excavator. The agreement included 24 consecutive monthly payments of $7,079.79 and total principal amount of $162,995, the suit states.
Wells Fargo claims Carey has an unpaid balance of $84,010.40 as of July 29, plus $6,326.63 in interest and $3,535.40 in late fees.
Wells Fargo seeks monetary relief of $91,327.29 plus late charges and other just relief. It is represented by Arthur Zamosky of Berstein-Burkely PC in Pittsburgh, Pennsylvania.
Wayne Circuit Court case number 19-c-127
