A bridal company is suing a local business over money alleged owed on a loan.
David's Bridal Inc. filed a lawsuit Feb. 11 in the Cook County Circuit Court against Modern Image Studios LLC and Gerry Avi of Glenview, citing a loan default and breach of contract.
The lawsuit states Modern Image owed David's Bridal $228,045 in a loan and David's Bridal agreed to reduce the amount to $145,045 in December 2010.
Avi, the general manager of the defendant, signed a promissory note for $100,000 in August 2011 and delivered a security agreement in September, according to the complaint.
David's Bridal claims the company and Avi failed to make all payments when due.
It is seeking damages of $80,000 in principle, with accrued unpaid interest of $7,942.32 and continuing interest, plus court costs, and being represented by Bryan Clark of Lathrop & Gage LLP in Chicago.
Cook County Circuit Court Case No. 2014L001372.
This is a report on a civil lawsuit filed at the Cook County Circuit Court. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
David's Bridal sues merchant over loan default, contract breach
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