HOUSTON, Jan. 18, 2019 /PRNewswire/ -- Shrader & Associates represented an investment business who suffered greatly after a financial partner refused to fulfill their agreement. The plaintiff, who shall remain anonymous, entered into a Loan Agreement with a new financial partner in the early stages of their new investment business with high hopes of a mutually beneficial relationship. However, the lender failed to uphold their agreement, leaving the plaintiff with a significant financial loss.
After months of in-depth discussions and thoroughly drafted business plans, the financial business entered into business with a new lender, the current defendant, via a financial agreement, dated November 25, 2015. Shortly thereafter, the plaintiff paid the agreed-upon borrower deposit, though the financial partner failed to uphold any of the financial obligations agreed upon in the Loan Agreement. Not only did the lender fail to return the deposit, their actions also cost the plaintiff serious financial losses by robbing them of their capital.
As time went on, the "lender" missed several scheduled payments and ultimately admitted to the now-plaintiff that they were in breach of their agreement. This admission was documented via email and dated February 19, 2016.
In an effort to reclaim the damages, Attorney Egdorf filed a complaint with the Harris County District Court and demanded a trial by jury. The requested relief included an award of the actual damages, consequential damages, attorneys' fees, cost of the lawsuit, prejudgment and post-judgment interest, and exemplary damages. Currently, the case is left with a default judgment of $120 million.
Commercial litigation is a vast and dynamic area of law and you will require experienced representation to successfully bring this type of lawsuit to court. The award-winning legal team at Shrader & Associates, L.L.P. has a track record of success and will dedicate our time and resources to relentlessly pursuing a favorable outcome for your case.
If you think you have a similar legal issue, especially one dealing with fraud and fraudulent inducement, make sure you take immediate action to defend your rights. Visit shraderlaw.com to learn more about Shrader & Associates and the cases they handle.
SOURCE Shrader & Associates, L.L.P.