BMO Harris Bank alleges freight company owes more than $384,000

By Jenie Mallari-Torres | Nov 24, 2017

FRESNO — BMO Harris Bank is suing a Fresno freight company, alleging it owes more than $384,000 for breach of contract.

BMO Harris Bank NA filed a complaint Oct. 18 in Fresno County Superior Court, against Royalty Freight and Does 1-50, alleging breach of good faith and fair dealing.

According to the complaint, BMO Harris Bank has suffered substantial economic damages from entering into several loan and security agreements in October 2014 with the defendant for its purchase of equipment. The suit says Royalty Freight has violated agreements by failing to make monthly payments totaling $384,269.65 and is now in default. 

The plaintiff alleges Royalty Freight received and benefited from the use of the equipment without extending the corresponding monthly payments, refused and continues to refuse BMO Harris Bank access to the equipment for repossession, and has failed to produce evidence that the equipment is insured as required by the agreements.

BMO Harris Bank seeks trial by jury, judgment in the amount of $384,269.65, plus interest, attorney fees, costs of suit, and all other relief the court finds equitable and just. It is represented by attorneys Deborah S. Cochran and Joshua Lopez of Wong Fleming in San Diego.

Fresno County Superior Court case number 17-CECG-03535

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