Previous Story
Investor sues firm over $190K rubber check
|
Posted on Apr 29 2008
An investor has filed a lawsuit in federal court against a company that issued her a bouncing check in the amount of $190,000.
Hye Lin Shin, a Korean, sued You Rim Corp. for conversion and bad checks.
Shin asked the U.S. District Court for the NMI to order the corporation to pay her the full amount of the dishonored check plus damages, interest, and back charges. Shin, through lawyer David G. Banes, also asked for attorney’s fees, court costs, and damages.
In the complaint filed on Monday, Banes stated that You Rim Corp. wrote Shin a check in the amount of $190,000 dated Aug. 5, 2007.
The following day, Banes said, Shin deposited the check, but after a few days, the bank returned the check as unpayable due to insufficient funds.
On March 24, 2008, the lawyer said, Shin wrote to You Rim Corp., demanding it pay the face amount of the dishonored check, together with such charges as may be imposed by the bank, within 30 days. Banes said that You Rim Corp. received the demand letter on April 2, 2008.
The company, through its agent, refused to pay, he said.
“[The] defendant, by failing to pay Shin the full amount of the check and by failing to have sufficient funds in its bank account to pay the check, has wrongfully taken plaintiff’s property and converted it to its own use,” he asserted.
The defendant, Banes said, is liable to Shin for the amount owing upon the check, plus bank charges and other allowable damages, pre-judgment interest at the rate of 12 percent per annum, plus attorney’s fees and treble damages.
The lawsuit did not mention why the check was issued to Shin in the first place.
