Republic Bank accuses three customers of failing to pay $900,000 debt

By Ruel Reyes | Apr 12, 2016

CHICAGO — Republic Bank of Chicago is suing suing three individuals, alleging an unpaid bank debt of more than $900,000.

Republic Bank of Chicago filed a lawsuit March 31, in the Cook County Circuit Court against Louis G. Canellis, Adam J. Cisek and Rgina E. Lakshmanan, alleging they failed to pay a bank debt.

According to the complaint, on May 8, 2015, Republic Bank of Chicago acquired from the defendants a promissory note payable and other loan document from FDIC. The suit says said note already had matured March 26, 2014, but it has not been paid or renewed. The plaintiff alleges the defendants failed to deliver the payment or renew or modify the promissory note payable of more than $900,000.

Republic Bank of Chicago seeks a trial by jury, the sum of $948,934.67 plus interest, attorney fees and the costs of suit. They are represented by attorney Edward P. Freud of Ruff, Freud, Breems & Nelson LTD in Chicago.

Cook County Circuit Court Case number 2016L003249

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