LOS ANGELES – A Connecticut debt purchaser alleges that it is owed by several companies for a settlement.
9600 SW 64 LLC filed a complaint on Aug. 2 in the U.S. District Court for the Central District of California against JH Portfolio Debt Equities LLC, Porthos Portfolio Trading, RTB Capital, LLC and JH Capital VI Inc. alleging fraud, negligent misrepresentation and breach of contract.
According to the complaint, the plaintiff alleges that in 2015, it purchased what it believed were distressed residential real estate loans secured by first mortgages from the defendants. The suit states the defendants allegedly made false representations regarding the loans as it states none of the loans were secured by a first deed of trust and were actually junior loans or had no deed of trust on the property. The plaintiff sought a rescission of the purchase and the suit states a settlement was reached by both parties. The plaintiff alleges that the defendants have not paid the amounts as agreed.
The plaintiff requests a trial by jury and seeks damages in the amount of $261,000 plus interest at the rate of 10 percent per annum, exemplary and punitive damages, damages in the sum of $2,121.26 plus interest at the rate of 10 percent, all legal fees and any other relief as the court deems just. It is represented by Darryl J. Horowitt and Laurence Y. Wong of Coleman & Horowitt LLP in Los Angeles.
U.S. District Court for the Central District of California Case number 2:16-cv-05748-PLA