Bank accuses L.A. borrower of defaulting on more than $300,000

By Noddy A. Fernandez | Mar 6, 2018

LOS ANGELES — A Florida banking corporation is suing a Los Angeles borrower, alleging breach of contract in failing to pay more than $300,000.

LOS ANGELES — A Florida banking corporation is suing a Los Angeles borrower, alleging breach of contract in failing to pay more than $300,000.

First Home Bank filed a complaint Feb. 27 in U.S. District Court for the Central District of California Western Division against Hershey Interests Inc., alleging the defendant breached the terms and conditions of the loan documents by defaulting. 

According to the complaint, on July 26, 2016, First Home Bank entered and delivered a promissory note in the original amount of $350,000 to Hershey Interests, to which the defendants agreed to pay with security interest. 

The suit says despite First Home performing its duties and obligations under the loan documents, the defendants have defaulted on payment due, which consists of an outstanding balance of $324,804.88 with accrued interest. 

The plaintiff alleges Hershey Interests continues to fail and refuse to remit payment of the loan proceeds advanced under the loan agreement.

First Home Bank seeks trial by jury, payment of the $324,804.88 owed, plus attorney fees, court costs, prejudgment interest and all other relief the court deems just. It is represented by attorney Joshua N. Kastan of DKM Law Group, LLP in San Francisco.

U.S. District Court for the Central District of California Western Division case number 2:18-cv-01584-ODW-AS

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