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  • Wise Funding Group, Llc v. Elite Hardwood Flooring, Inc. Dba Elite Hardwood Flooring, Timothy L. Newman, Lauren Ann Newman Commercial - Contract document preview
  • Wise Funding Group, Llc v. Elite Hardwood Flooring, Inc. Dba Elite Hardwood Flooring, Timothy L. Newman, Lauren Ann Newman Commercial - Contract document preview
  • Wise Funding Group, Llc v. Elite Hardwood Flooring, Inc. Dba Elite Hardwood Flooring, Timothy L. Newman, Lauren Ann Newman Commercial - Contract document preview
  • Wise Funding Group, Llc v. Elite Hardwood Flooring, Inc. Dba Elite Hardwood Flooring, Timothy L. Newman, Lauren Ann Newman Commercial - Contract document preview
						
                                

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FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 SUPREME COURT OF THE STATE OF NEW YORK Index No. COUNTY OF NEW YORK --- ---------------------------- -----------x SUMMONS WISE FUNDING GROUP, LLC Plaintiff, Plaintiff designates New York -against- as the place of trial County ELITE HARDWOOD FLOORING, INC. DBA ELITE The basis of the venue is: HARDWOOD FLOORING, TIMOTHY L. NEWMAN Pursuant to the agreement between AND LAUREN ANN NEWMAN the parties Defendant(s). ------------------- 3rd ------------'x Plaintiff's Address: 767 Avenue 32nd PlOOr, New York, NY 10017 •' To the above names Defendants: You are hereby summoned to answer the complaint in this action and serve a copy of your answer, or, if the complaint is not served with this summons, to serve a notice of appearance, on Plaintiff s Attorney within 20 days afterthe service of this summons, exclusive of the date of service or within 30 days after the service is complete if this summons is not personally delivered to you within the State of New York; and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. Dated: July 26, 2019 Richard Muller Esq. Attorney for Plaintif Wise Funding Group, LLC 3rd 32nd To: 767 Avenue, FlOOr New York, NY 10017 Elite Hardwood Flooring, Inc. dba Elite (212)-676-5586 Hardwood Flooring : 196 Bournehurst Drive Plymouth, MA 02360 Timothy L. Newman: 196 Bournehurst Drive Plymouth, MA 02360 Lauren Ann Newman: 3 Mane Circle Pocasset, MA 02559 1 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 SUPREME COURT OF THE STATE OF NEW YORK Index No. COUNTY OF NEW YORK --------------------------------------------------x WISE FUNDING GROUP, LLC Plaintiff, -against- VERIFIED COMPLAINT ELITE HARDWOOD FLOORING, INC. DBA ELITE HARDWOOD FLOORING, TIMOTHY L. NEWMAN AND LAUREN ANN NEWMAN Defendant(s). -------- ----------------------------------------------x Plaintiff Wise Funding Group, LLC ("Plaintiff "), by its attorney, Richard Muller Esq., for its complaint herein against ELITE HARDWOOD FLOORING, INC. DBA ELITE HARDWOOD FLOORING ("ELITE"), TIMOTHY L. NEWMAN ("TIMOTHY") and LAUREN ANN NEWMAN ("LAUREN") (ELITE, TIMOTHY and LAUREN collectively known as "Defendants"), allege as follows: THE PARTIES 1. At allrelevant times, Plaintiff was and is a limited liability company organized and existing under the laws of the State of New York. 2. Upon information and belief and at allrelevant times, ELITE was and is a company organized and existing under the laws of the State of Massachusetts that agreed that any action between the parties be instituted in any court sitting in New York State. 3. Upon and information belief, at allrelevant times, TIMOTHY was and IS an individual residing in the State of Massachusetts who agreed that any action between the parties be instituted in any court sitting in New York State. 2 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 4. Upon and information belief, at all relevant times, LAUREN was and IS an individual residing in the State of Massachusetts who agreed that any action between the parties be instituted in any court sitting in New York State. THE FACTS 5. On or about May 30, 2019, Plaintiff and ELITE entered into a Purchase and Sale of Future Receivables (the "Merchant Agreement") whereby Plaintiff agreed to purchase all rights to ELITE's future account- receivables a face value of $51,100.00 with an having agreed upon purchase price of $35,000.00. 6. Pursuant to the Merchant Agreement, ELITE agreed to have one bank account approved by Plaintiff (the "bank account") from which ELITE authorized Plaintiff to debit 25% of ELITE's revenue until the purchased amount of receivables- $51,100.00- was paid daily in full. 7. In addition, TIMOTHY and LAUREN agreed to guarantee any and all amounts owed to Plaintiff from ELITE upon a breach in performance by ELITE. 8. Plaintiff remitted the purchase price for the future receivables to ELITE as agreed. Initially, ELITE met its obligations under the Merchant Agreement. 9. On or about July 24, 2019, ELITE stopped making itspayments to Plaintiff and otherwise breached the Merchant Agreement by intentionally impeding and preventing Plaintiff from making the agreed upon ACH withdrawals from the Bank Account while conducting regular business operations and stillin receipt of accounts-receivable. This is a default under the Merchant Agreement. 10. Company Defendant made payments totaling $7,165.00 leaving a balance of $43,935.00. 3 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 11. Despite due demand, ELITE has failed to pay the amounts due and owing by ELITE to Plaintiff under the Merchant Agreement. 12. Additionally, TIMOTHY and LAUREN is responsible for all amounts incurred as a result of any default by ELITE. 13. There remains a balance due and owing to Plaintiff on the Merchañt Agreement in the amount of $43,935.00 plus interest, costs, disbursements and attorney fees. AS AND FOR A FIRST CAUSE OF ACTION (BREACH OF CONTRACT) "1" 14. Plaintiff repeats and realleges each and every allegation contained in paragraphs "13" through of this complaint as though fully set herein at length. 15. Plaintiff gave fair consideration to ELITE which was tendered for the right to receive the aforementioned receivables. Thus, Plaintiff fully performed under the Merchant Agreement. 16. Upon and information and belief, ELITE is stillconducting regular business operations and still collecting receivables. 17. ELITE breached the Merchant Agreement by defaulting on itsrepresentations and warranties to Plaintiff by blocking Plaintiff's access to the Designated Bank Account from which ELITE agreed to permit Plaintiff to withdraw receivables, by failing to deposit receivables into the Designated Bank Account, by disposing of Plaintiff's assets without Plaintiff's prior written express consent, and/or by depositing receivables into a bank account other than the Designated Bank Account, all while stillconducting regular business operations. As a result, Plaintiff has been unable to collect its daily percentage of Receivables purchased from ELITE since the date of said default 4 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 18. By reason of the foregoing, Plaintiff is entitled to judgment against Defendant for breach of contract for $43,935.00 of future receivables, plus interest, costs, disbursements and attorney fees. AS AND FOR A SECOND CAUSE OF ACTION (PERSONAL GUARANTEE) "1" 19. Plaintiff repeats and realleges each and every allegation contained in paragraphs "18" through of this complaint as though fully set forth at length herein. 20. Pursuant to the Merchant Agreement, TIMOTHY and LAUREN personally guaranteed that ELITE would perform its obligations thereunder and that he or she would be personally liable for any loss suffered by Plaintiff because of a breach ELITE. 21. ELITE has breached the Merchant Agreement as detailed above. 22. By reason of the foregoing, Plaintiff is entitled to a judgment against TIMOTHY and LAUREN based on his or her personal guarantee in the sum of $43,935.00, plus interest, costs, disbursements and attorney fees. AS AND FOR A THIRD CAUSE OF ACTION (UNJUST ENRICHMENT) "1" 23. Plaintiff repeats and realleges each and every allegation contained in paragraphs "22" through of this complaint as though fully set forth at length herein. 24. Defendants have been unjustly enriched in that they have received the purchase price for the future receivables, yet have failed to pay the sum of $43,935.00, plus interest, costs, disbursements and attorney fees. 25. By reason of the foregoing, Plaintiff is entitled to a judgment against the Defendants for unjust enrichment in the sum of $43,935.00, plus interest, costs, disbursements and attorney fees. 5 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 WHEREFORE, PlaintiffWise Funding Group, LLC requests judgment against Defendants ELITE HARDWOOD FLOORING, INC. DBA ELITE HARDWOOD FLOORING, TIMOTHY L. NEWMAN AND LAUREN ANN NEWMAN as follows a. On the first cause of action of the complaint, Plaintiff requests judgment against ELITE in the amount of $43,935.00, plus interest, costs, disbursements and attorney fees; b. On the second cause of action of the complaint, Plaintiff requests judgment against TIMOTHY and LAUREN in the amount of $43,935.00, plus interest, costs, disbursements and attorney fees. c. On the third cause of action of the complaint, Plaintiff requests judgment against ELITE, TIMOTHY and LAUREN in the amount of $43,935.00, plus interest, costs, disbursements and attorney fees. d. For such other and further relief as this Court deems just and proper. Dated: New York, New York July 26, 2019 By: Richard Muller Esq, Wise Funding Group, LLC Attorney for Plaintiff 3rd 32nd 767 Avenue, FlOOr New York, NY 10017 (212)-676- 5586 6 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 STATE OF NEW YORK ) COUNTY OF NEW YORK ) LISA ADJODA, being duly sworn, states: I am the Collection Manager for Plaintiff,Wise Funding Group, LLC in the within action. I have read the foregoing Verified Complaint and know the contents thereof; the same is true to my knowledge, except as to the matters therein stated to be alleged upon info-1ñation and belief and as to those matters I believe them to be true. The foregoing statements are true under penalties of perjury. BY: Lisa Adjoda Sworn to before me this c (a day of 2019 RICHARD MULLER Notesy Publk;, State of Neo No. O2MU6314885 - in Kings Count. Qualified Public C Evives NOV U Ñotary RICHMtD MULLER Notesy Pubbs, Senseof New Wrk No. O2MU6314885 in Kings County Qualified Comrnission Emires NOV. 17, .2 Z 7 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK --- -----------_________ __--,---------------------X Index No. WISE FUNDING GROUP, LLC Plaintiffs - against - ELITE HARDWOOD FLOORING, INC. DBA ELITE HARDWOOD FLOORING, TIMOTHY L. NEWMAN AND LAUREN ANN NEWMAN Defendants NOTICE OF COMMENCEMENT OF ACTION SUBJECT TO MANDATORY ELECTRONIC FILING PLEASE TAKE NOTICE that thematter cap6oned above, which has been commêñced by filingof the accompanying documents with the County Clerk, issubject to mand*nry electronic filing pursuant to Section 202.5-bb of the Uniform Rules for the TrialCourts. This notice is being served as required by Subdivision (b) (3) of that Section. The New York State Courts Electronic Filing System ("NYSCEF") is designed forthe electronic filing of documents with the County Clerk and the court and for the electronic service of those documents, court documents, and court notices upon counsel and self-represeñted parties. Counsel and/or parties who do not notify the court of a claimed exemption (see below) as required by Section 202.5-bb(e) must immediately record their representation within the e-filed matter on the Consent page in NYSCEF. Failure to do so may result in an inability to receive electronic notice of document filings. Exemptions from mandatory e-filingare limited to: 1) attorneys who certifyin good faith that theylack the computer equipment and with all the requisite knowledge to and self- (along employees) comply; 2) represented parties who choose not to participatein e-filing.For additional information about electronic filing, including access to Section 202.5-bb, consult the NYSCEF website atwww.nycourts.gov/efile or contact the NYSCEF Resource Center at 646386-3033 or efile@courts.state.ny.us. Dated: July 26, 2019 Richard Muller, Esq Attorney for Plaintiff Wise Funding Group, LLC 3rd 32nd 767 Avenue, FlOOr New York, NY 10017 212-676-5586 rmuller@wisefundinegroup.com 8 of 9 FILED: NEW YORK COUNTY CLERK 07/26/2019 01:54 PM INDEX NO. 654284/2019 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/26/2019 SUPREME COURT OF THE STATE OF NEW YORK Index # COUNTY OF NEW YORK WISE FUNDING GROUP, LLC Plaintiff, -against- ELITE HARDWOOD FLOORING, INC. DBA ELITE HARDWOOD FLOORING, TIMOTHY L. NEWMAN AND LAUREN ANN NEWMAN Defendants ......... .................................... SUMMONS AND VERIFIED COMPLAINT Richard Muller, Esq Attorney for Plaintiff 3rd 767 Avenue 32nd Fl0Or New York, N.Y. 10017 (212) 676-5586 Service of a copy of the within is hereby admitted. Dated, Attorney(s) for 9 of 9