Peter Roeser secured a judgment of nearly three-quarters of a million dollars on behalf of plaintiff Southwest Traders Inc. in a case involving breach of a commercial loan and foreclosure of security interest.
In 2015, Southwest Traders, a premier foodservice distributor based in California, entered into a commercial loan agreement with Spring Creek Holdings, LLC that was secured by a security interest in property and a personal guaranty. When Spring Creek Holdings stopped making payments, Southwest Traders filed suit in federal court.
The U.S. District Court for the Northern District of Illinoisgranted the plaintiff’s motion for summary judgment and, on November 2, 2018, entered judgment in the amount of more than $746,000. In addition to ordering defendants to pay all actual damages, the district courtordered reimbursement of attorney fees and court costs.
“Obtaining judgment in favor of our client was a matter of when, not if,” according to Roeser, counsel for Southwest Traders.