Bank seeks more than $2M over loan Platinum Hospitality Group, others allegedly defaulted on

By Annie Cosby | Jul 24, 2014

A bank is suing over claims that a $2 million loan has gone into default.

A bank is suing over claims that a $2 million loan has gone into default.

Republic Credit One LP, assignee of the Federal Deposit Insurance Corp. and successor to Premier Bank Wilmette, filed a breach of contract suit July 15 in the Cook County Circuit Court against Platinum Hospitality Group LLC, doing business as Days Inn; Altef, Nizar and Nick Hermani; Katy Pin Oak Crossing I LP; Reedy Creek Hospitality LLC; and Mohammad and Nasirrudin Hermani, as well as both of their estates.

According to the complaint, the defendant companies in 2009 received a $2.006 million business loan and mortgage from Premier Bank Wilmette that was guaranteed by the individual defendants and scheduled to be paid back by October 2010.

The bank asserts the defendants have defaulted and now owe it more than $2.64 million, with interest.

Republic Credit One is seeking the amount owed, plus interest and attorney's fees. It is being represented in the case by attorneys at Hermanek & Gara P.C. in Chicago.

Cook County Circuit Court Case No. 2014L007401.

This is a report on a civil lawsuit filed in the Cook County Circuit Court. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.

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