Wells Fargo Bank has taken legal action against a Delaware-based company, accusing it of breaching multiple leasing agreements. On February 12, 2025, Wells Fargo filed a complaint in the United States District Court for the Northern District of Illinois against Emery Air, LLC. The bank is seeking to recover over $269,000 due to alleged defaults on equipment lease agreements.
The case revolves around three separate leasing agreements between Wells Fargo and Emery Air. The first agreement was signed on August 19, 2020, for the leasing of two used forklifts. Under this agreement, Emery Air was required to make monthly payments but allegedly defaulted by failing to do so. Wells Fargo claims that as a result of this default, they are entitled to recover the unpaid balance along with interest and additional costs. The second agreement was entered into on August 11, 2021, involving another forklift lease with similar terms and subsequent alleged defaults by Emery Air. Finally, a third agreement dated August 12, 2021, also resulted in claimed defaults concerning yet another piece of equipment.
Wells Fargo asserts that these failures constitute breaches of contract under each respective agreement's terms. According to the bank's complaint, "Defendant defaulted under the Agreements by failing and refusing to make payments when due." The plaintiff argues that these actions have caused financial damages amounting to $269,402.47 plus prejudgment interest and legal fees.
In addition to monetary compensation for the breach of contract claims, Wells Fargo is also pursuing replevin and detinue actions against Emery Air. These legal remedies aim to reclaim possession of the leased equipment which remains in Emery Air's custody despite demands for its return. Wells Fargo emphasizes their right to repossess the equipment as stipulated in each lease agreement upon default by Emery Air.
Representing Wells Fargo in this matter is attorney Debra Devassy Babu from Darcy & Devassy PC based in Chicago. The case has been assigned Case ID: 3:25-cv-50057 and will be presided over by judges from the Northern District of Illinois.