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University of Loyola sues three for allegedly defaulting on loan
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Posted on Nov 20 2008
University of Loyola at CNMI Inc. has sued three persons over alleged non-payment of a loan that was used to pay for medical treatment.
University of Loyola sued Sammy Sung Yun Lee, Eleanor A. Loste, and Augustus Loste for breach of contract, fraud, misrepresentation and deceit.
The plaintiff, through counsel Mark A. Scoggins, asked the Superior Court to order the defendants to jointly pay the outstanding balance of $18,000.
The plaintiff also asked the court to order Lee to pay the remaining balance of $1,390.
University of Loyola demanded damages, attorney’s fees, and court costs.
Saipan Tribune tried to obtain a statement from the defendants, but the Lostes declined to comment.
Scoggins stated in the complaint that in December 2007, Lee received a personal loan from Loyola in the amount of $20,000 in order to pay for the medical treatment of his daughter.
Scoggins said Mr. and Ms. Loste were informed of the assignment of the lease payments in December 2007 and that, as lessee of the property, have an obligation to pay Loyola $18,000.
The lawyer said that on Jan. 31, 2008, Mr. Lee and Dr. Johnny Fong of Loyola executed an assignment of lease payments in which Mr. Lee formally assigned to Loyola the lease payments due under the assignment of lease.
He said Mr. and Ms. Loste were informed of the formal assignment of lease payments by early February 2008, but never paid Loyola any of the rental payments as required by the assignment.
Scoggins said that, despite promises to repay the entire loan balance, Mr. Lee made only three payments of $200 each to Loyola in the first part of 2008, and one recent token payment to Loyola in the amount of $10.
