PHILADELPHIA – A Utah-based commercial bank claims a pair of interstate defendants possess an unpaid and outstanding balance to it in excess of $22,000, in lease payments and other expenses.
On July 19, Marlin Business Bank of Salt Lake City, Utah filed suit in the Philadelphia County Court of Common Pleas versus Viking Restoration, LLC of Jamestown, N.Y. and Craig Lindquist of Warren.
MBB is a direct lender which provides financing to businesses, in order for them to purchase new equipment and technology. On or about Feb. 25, 2015, Viking Restoration executed and delivered to MBB an equipment lease contract, which provided for the lease for and payments to be made by Viking Restoration – supplemented by a personal guaranty of payment from Lindquist.
The lawsuit says Viking Restoration breached the lease and Lindquist breached the guaranty by failing to make the lease and other payments leading to default, which caused MBB to accelerate the remaining payments and to demand immediate presentation thereof. According to the lease's forum selection clause, the laws of the Commonwealth of Pennsylvania govern the agreement and direct each participant to waive any right to a jury trial.
“Despite repeated demands for payment, Viking Restoration and Lindquist have failed and refused to pay the lease payments due in accordance with the lease to MBB,” the suit says.
MBB says the defendants are liable to it for the following expenses:
a.) Past Due Payments – $9,500.00
b.) Past Due Sales Taxes – $760.00
c.) Accelerated Balance (discounted to PV) – $9,429.16
d.) Residual – $1.00
e.) Sales Tax On Accelerate And Residual – $754.41
f.) Late Charges – $1,425.00
g.) Unpaid Insurance Fees – $15.00
Total – $22,024.89
Per the terms of the lease, MBB is entitled to expenses of enforcement, which so far is $500.00 and currently accruing as the action proceeds.
For counts of breach of contract, promissory estoppel/detrimental reliance, unjust enrichment and quantum meruit, the plaintiff is seeking damages in the amount of $22,584.89, plus additional fees, cost of suit, interest and such other relief as the Court deems just and proper in this matter.
The plaintiff is represented by Edward R. Dietz Jr. of Marlin Business Bank, in Mount Laurel, N.J.
Philadelphia County Court of Common Pleas case 170701872
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at email@example.com