LOS ANGELES – A financial lender based in Irvine alleges an Iowa company defaulted on a loan.
Quick Bridge Funding LLC filed a complaint on Sept. 22 in the U.S. District Court for the Central District of California against Shear Transportation Inc., Danny Wayne Shear; David Edwin Shear and Dewayne E. Shear, citing breach of promissory note and breach of guaranty.
According to the complaint, the plaintiff alleges that in June, the defendants delivered to BOFI Federal bank a promissory note of $100,000 and that the defendants agreed to repay $142,000 to the bank. That loan has since been assigned to the plaintiff, the suit states. The plaintiff holds Shear Transportation Inc., Danny Wayne Shear, David Edwin Shear and Dewayne E. Shear responsible because the defendants allegedly breached their agreement by failing to make a payment based on their agreed date for the loan the acquired from plaintiff.
The plaintiff requests a trial by jury and seeks principal amount of $95,418.16 plus interest from and after Sept. 9, plus all legal fees. It is represented by Thomas E. McCurnin and Terry L. Higham of Barton, Klugman & Oetting LLP in Los Angeles.
U.S. District Court for the Central District of California Case number 8:16-cv-01762-CJC-RAO