MEDIA – A major banking chain is pursuing outstanding lease payments from a local graphic design and printing company, which were intended to be made in exchange for the use of professional equipment.
BB&T Commercial Equipment Capital Corp. (formerly known as Susquehanna Commercial Finance, Inc.) of Lititz filed suit in the Delaware County Court of Common Pleas on July 28 versus Kingdom Exposure Ltd. of Drexel Hill and Terrence L. Ford, of Philadelphia.
On Dec. 30, 2014, Kingdom Exposure executed a lease with BB&T, for pieces of equipment including a One Highland HM/D 1501C Embroidery Machine with Business Start-Up Package and a One Summit 520 DTG Printer with Starter Kit and RIP Software. Ford served as the lease’s guarantor.
Under the terms of the lease, Kingdom Exposure was to make one down payment for $2,500, followed by 60 monthly payments in the amount of $500.59 each, plus applicable taxes. However, the suit says Kingdom Exposure made 26 payments, but not the one due by April 28 of this year or any of the ones thereafter, thereby defaulting under the lease.
For counts of breach of contract against each defendant, the plaintiff is seeking damages of $17,020.06, plus accrued late charges of $151.77 and reasonable attorney’s fees of 15 percent, for a grand total of $19,747.60 (less applicable discount for unmatured rentals as of judgment date), plus interest and applicable late charges in this matter.
The plaintiff is represented by Barbara Lanza Farley in Philadelphia.
Delaware County Court of Common Pleas case 2017-006690
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at nickpennrecord@gmail.com