Defendant Maintained It Fully Repaid Promissory Note
In 2015, plaintiff LLBM LLC, a York-based firm, was assigned a promissory note of $50,000 by Gary Lucas. The note had been issued in June 2003, by real estate company Prime Properties Inc. to Lucas, who had loaned it money.
January 18, 2018 at 03:25 PM
2 minute read
LLBM v. Prime Properties
Defense Verdict
Date of Verdict: Nov. 15.
Court and Case No.: C.P. Bucks County, No. 2015-05545.
Judge: Robert J. Mellon.
Type of Action: Breach of Contract.
Injuries: Lost funds.
Plaintiffs Counsel: Sean E. Summers, Summers Nagy Law Offices, York.
Defense Counsel: John A. VanLuvanee, Eastburn and Gray, Doylestown.
Comment:
In 2015, plaintiff LLBM LLC, a York-based firm, was assigned a promissory note of $50,000 by Gary Lucas. The note had been issued in June 2003, by real estate company Prime Properties Inc. to Lucas, who had loaned it money. The company issued the note, which was payable on demand, as a pledge to repay Lucas. Eventually, in 2015, Lucas assigned the note to LLBM.
LLBM asserted that, despite the promissory note and multiple demands to be repaid, Prime Properties had not repaid the $50,000.
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