A bank recently filed a lawsuit seeking repayment of $1.36 million from a dentist and his Boulder, CO, practice for failing to make loan payments, according to a story published on December 18 in BizWest.
On December 12, First Western Trust Bank sued Dr. Kyle Daniel and his practice, Boulder Premier Dentistry, for breach of contract. Daniel reportedly defaulted on the loan by not making payments in October and November and defaulting on a lease agreement with Valmont Holdings. Additionally, the dentist defaulted on the loan guarantee for not repaying the bank, according to the story.
As of November 29, the bank stated that “not less than $1,154,039” was due in principal and interest, according to the article. In addition to repayment, the bank is seeking attorney and court costs.