PHILADELPHIA — A bank is suing CML RW Security LLC, a Colorado company, citing alleged breach of contract for failing to repay a loan.
Univest Bank and Trust, of Souderton, filed a complaint on March 27 in the U.S. District Court for the Eastern District of Pennsylvania alleging that the defendant, which supplies equipment to correctional facilities, failed to pay the plaintiff under the guaranty.
According to the complaint, the plaintiff alleges that it sustained financial damages. The plaintiff holds the defendant responsible because it allegedly defaulted on its obligation under the guaranty and continued to refuse to pay the plaintiff.
The plaintiff seeks judgment against the defendant in the amount of $2,147,259 plus interest at the rate of $338.27, court costs and any further relief the court grants. The plaintiff is represented by William R. Hinchman and Robert P. Johns III of Klehr Harrison Harvey Branzburg LLP in Philadelphia.
U.S. District Court for the Eastern District of Pennsylvania Case number 2:17-cv-01362-TJS