Canada :Company Sued For $190,456 Over Copier Equip Lease

Toner News Mobile Forums Toner News Main Forums Canada :Company Sued For $190,456 Over Copier Equip Lease

Date: Tuesday July 3, 2012 09:45:05 am
Viewing 1 post (of 1 total)
  • Author
    Posts

  • Anonymous
    Inactive

    Canada :Company Sued For $190,456 Over Copier Equip Lease

    An Alberta-registered company that leases document copying and binding equipment is suing a Dartmouth print company for $190,456.

    In documents filed in Nova Scotia Supreme Court on Wednesday, National Leasing Group Inc., which is also registered to carry on business in Nova Scotia, alleged that Kenmac Print Ltd. entered into a 66-month lease agreement, Lease 325, for document copy and binding equipment with Konica Minolta Business Solutions (Canada) Ltd. in November 2010.

    National Leasing alleged Konica subsequently assigned the lease agreement to it in exchange for $82,422, the price of the equipment.

    According to court documents, the defendant Kenmac failed to pay the quarterly amount owed to National Leasing under the lease agreement in December 2011 and permitted the plaintiff to repossess the equipment, which it sold for $5,000.

    “The plaintiff says that the defendant is in breach of Lease 325, and pursuant to the terms of the lease, the defendant is liable for arrears, the balance of the lease payments (discounted as provided for in the lease), and interest on all amounts owing at the contractual rate of 24 per cent per annum,” court documents show.

    “The plaintiff says that its total loss, less the value obtained from the sale of the equipment, was $96,886 as of April 3, 2012.”

    National Leasing further alleged that the defendant Kenmac entered into another 60-month equipment lease, Lease 613, with Konica Minolta on or about June 10, 2010, that was also subsequently assigned to the plaintiff in exchange for $86,885, the price of the equipment.

    According to court documents, the defendant failed to pay the quarterly amount owed to the plaintiff under that lease agreement in or about December 2011 and permitted the plaintiff to repossess the equipment, which it also sold for $5,000.

    “The plaintiff says that the defendant is in breach of Lease 613, and pursuant to the terms of the lease, the defendant is liable for arrears, the balance of the lease payments (discounted as provided for in the lease), and interest on all amounts owing at the specified rate of 24 per cent per annum,” court documents said.

    “The plaintiff says that its total loss, less the value obtained from the sale of the equipment, was $93,570 as of April 3, 2012.

    National Leasing is also seeking prejudgment interest calculated from April 3, 2012, and costs.

    None of the allegations have been proven in court. The defendant has 15 days to file a defence.

    Kenmac declined to comment on the legal action when contacted Thursday

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.