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Monday, February 17, 2020

Retail Capital alleges it is owed more than $50,000 from Fresno County resident

Lawsuits

By Noddy A. Fernandez | Jan 16, 2019

Law money 06

FRESNO – A Fresno County man allegedly failed to repay a loan made by a New York limited liability company.

Retail Capital LLC filed a complaint on Jan. 2 in the Fresno County Superior Court against Mark Castro, individually and doing business as Castro and Castro, and Does 1 through 5 alleging that breach of written agreement and written guaranty.

According to the complaint, on Dec. 14, 2017, Retail Capital LLC entered into a business loan and security Agreement with Castro and Castro wherein defendant Castro personally guaranteed its obligations to pay plaintiff monies owed under the agreement. 

Pursuant to the terms of the agreement, Castro and Castro received a cash advance in the amount of $69,500 with a repayment amount of $100,775, the suit states.

However on June 20, 2018, Castro and Castro allegedly defaulted on its repayment obligation and Castro failed to cure the default.

The plaintiff holds Mark Castro, doing business as Castro and Castro, responsible because the defendant allegedly breached the agreement with the default and failed to repay the amount.

The plaintiff seeks judgment for general and special damages in the principal sum of $54,607.33, plus fees and penalties, 10 percent on prejudgment in interest per annum, attorneys' fees, costs of suit, and such other and further relief that the court considers proper. They are represented by Lauren Hanley-Brady of Global Legal Law Firm in Solana Beach.

Fresno Count Superior Court case number 19CECG00009

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Fresno County Superior CourtGlobal Legal Law Firm

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