Transportation Alliance Bank, Inc. (TAB Bank) has filed a lawsuit against Dovgal Express, Inc., alleging breach of contract and seeking the recovery of over $2.5 million in unpaid loans and associated collateral. The complaint was filed on December 6, 2024, in the United States District Court for the Northern District of Illinois by TAB Bank against Dovgal Express.
The case centers around two business loan agreements between TAB Bank and Dovgal Express. The first agreement, dated May 20, 2022, involved a loan of $2,301,889.50 secured by certain vehicles as collateral. According to the complaint, Dovgal Express failed to make the required monthly payments of $44,538.00 starting from July 19, 2022. As a result of this default, TAB Bank claims that the outstanding balance as of September 30, 2024, amounts to $1,930,062.77 including principal balance, accrued interest, fees, late charges and an early termination fee.
The second loan agreement was signed on June 15, 2022 for $733,972.65 with similar terms regarding payment and collateral security. Dovgal Express is alleged to have defaulted on this loan as well by failing to make monthly payments of $14,199.97 starting from August 14, 2022. The complaint states that the outstanding balance for this loan is $597,499.90 as of September 30th.
TAB Bank's lawsuit seeks several forms of relief from the court: a judgment against Dovgal Express for both unpaid loans totaling at least $2.5 million; repossession orders for the vehicles used as collateral; and compensation for attorney’s fees and costs incurred during legal proceedings.
The attorneys representing Transportation Alliance Bank are Kurt M. Carlson and Morgan I. Marcus from Carlson Dash LLC based in Chicago along with Steven T Waterman from Dorsey & Whitney LLP located in Salt Lake City Utah handling federal matters related to this case which is identified under Case ID: 1:24-cv-12529 before an unnamed judge at present time.