Editor's note: This story has been updated to reflect a proposed settlement.
ST. LOUIS — A creditor's suit against ORHI 2000 LLC and Sultan S. Issa of Hinsdale, Ill. citing alleged breach of contract over a loan appears to have settled.
According to an April 28 plaintiff's memorandum in the litigation filed at the Eastern District of Missouri, Central Bank of St. Louis indicates that parties to the suit have reached settlement.
The bank asked for 90 days to effectuate a settlement agreement, and stated through its attorney it would not seek an order of default.
U.S. Magistrate David D. Noce on May 1 ordered parties to submit by July 31 a stipulation for dismissal, a motion for leave to voluntarily dismiss, or a proposed consent judgment.
The complaint sought judgment in the amount of $3,078,339.93, plus interest of $1,456.58 per diem from Jan. 20 thereon, costs of collection, attorney's fees and further relief.
The bank is represented by Larry E. Parres and R. Bradley Ziegler of Lewis, Rice & Fingersh LC in St. Louis.
ORHI 2000 is represented by W. Jeffrey Muskopf of SmithAmundsen of St. Louis and Zachary Robert McMichael of Blitz and Bardgett of Clayton.
U.S. District Court for the Eastern District of Missouri Case number 17-cv-00262