PHILADELPHIA - A bank based in Souderton is suing CML RW Security LLC, a Colorado company, citing alleged breach of contract for failing to repay more than $2 million on a loan.
Univest Bank and Trust Co. filed a complaint on March 27 in the U.S. District Court for the Eastern District of Pennsylvania, alleging CML RW Security failed to pay the plaintiff.
According to the complaint, the plaintiff alleges it sustained monetary damages due to the unpaid loan. The bank holds CML RW Security responsible because it allegedly refused to make payment on the loan, therefore financially damaging the plaintiff.
The bank seeks judgment in the amount of $2,147,259 plus interest at the rate of $338.27 per day, court costs and any further relief this court grants.
It 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