Thank you, Lior Monus Business Development Manager CFG Merchant Solutions Direct: (646) 880-6764 Cell: (516) 319-5826 Fax: (646) 278-7322 [email protected] Seq. The SBA updates PPP statistics every Monday so the ranking could change. Another small business borrower who's been through the wringer with merchant cash advance companies is Jon Runion of Runion Dental Group in Columbus, Ohio. A lot of these companies had problems prior to coronavirus; they were on a payment plan and they defaulted.". The Judge overseeing this case is MOYE', ERIC. ITRIA VENTURES LLC VS BOUGIE BAKES LLC, ET AL. Repayment was made through debits from the 1975 account directly to Itria or, in some instances, to the Investors (id., 22). Itria Ventures was the direct lender for 165,827 approved loans in 2021 worth $4.76 billion. Heskin, who testified last year before Congress about the lenders' tactics, said one of his law partners found a disemboweled rat splayed atop his mailbox in front of his home. Case number 1922-AC09632 was filed in the St. Louis 22nd Judicial Circuit Court on July 26. Tortious interference is one of several claims that came up in Kalamata Capital's recent lawsuit against Biz2Credit Inc. and Itria Ventures, LLC, and the court has already issued its first ruling on what conduct might constitute tortious interference with cash advance agreements. Defendants Sigmone and 0'Dell notarized the allegedly forged documents. The Newsletter Bringing the Legal System to Light. chrysler capital lawsuit; who loves who more calculator. Itria Ventures LLC in Tallahassee, FL | Company Info & Reviews Company Information Reviews Questions Post Question Company Contacts ARORA RAMIT Ceo, 462 7th Avenue, 20th Fl New York, NY 10018 ARORA RAMIT Pmgr 462 7th Avenue, 20th Fl New York, NY 10018 JONATHAN S GITLIN Gc 462 7th Avenue, 20th Fl New York, NY 10018 ADDITIONAL LINKS 2023-01-31, Los Angeles County Superior Courts | Contract | The central argument here fails because, among other things, Provident's Third Party Complaint alleges more than omissions, but active fraudulent statements from Itria/Biz2Credit. Mr. The only source of capital he could find was from merchant cash advance companies. Disposition: Judgment; Judicial Officer; MOYE', ERIC; Judgment Type; NON-SUIT/DISMISSAL BY PLAINTIFF / PETITIONER; Judgment; Total Judgment:; of $0.00; Awarded To:; ITRIA VENTURES, LLC; Awarded Against:; ITRIA VENTURES, LLC, NOTICE OF DISMISSAL FOR WANT OF PROSECUTION; Comment: MAILED, DispositionDisposition: Judgment; Judicial Officer: MOYE', ERIC; Judgment Type: NON-SUIT/DISMISSAL BY PLAINTIFF / PETITIONER; Judgment: Total Judgment:; of $0.00: Awarded To:; ITRIA VENTURES, LLC: Awarded Against:; ITRIA VENTURES, LLC, DocketDISMISSAL FOR WANT OF PROSECUTION; Judicial Officer: MOYE', ERIC; Hearing Time: 2:00 PM; Cancel Reason: CASE CLOSED, DocketNOTICE OF DISMISSAL FOR WANT OF PROSECUTION; Comment: MAILED, DocketCITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: ADEEL MEMON, DocketCITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: MAFHH DISTRIBUTOR #1 LLC, DocketCITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: NEW WORLD WHOLESALE INC, FinancialFinancial info for ITRIA VENTURES, LLC : CREDIT CARD - TEXFILE (DC); Receipt # 83073-2021-DCLK; ITRIA VENTURES, LLC $316.00, FinancialFinancial info for ITRIA VENTURES, LLC : Transaction Assessment; ; $316.00, FinancialFinancial: ITRIA VENTURES, LLC ; Total Financial Assessment $316.00 ; Total Payments and Credits $316.00, Riverside County Superior Courts | Contract | For this first loan, the plaintiff was required to pay back to Itria $305,000 at a rate of $1,452.38 per day, the suit says. Indelicato said he began dealing with merchant cash advance companies around 2016, when he wanted to expand his business and needed more money than his conventional bank loan could provide. A rat was found on the mailbox of a lawyer who represents the customers of merchant cash advance lenders. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. Public Records Policy. Default is entered in the amount of $443,680.93 consisting of $405,300.04 in damages, $28,537.28 in prejudgment interest, $3,900.61 in costs, and $5,943.00 in attorney fees. Contact/Customer Service phone number: (302) 295-3828 Headquarters: 1000 N West St Ste 1200, Wilmington, Delaware, 19801, United States ; Phone Number: (302) 295-3828 ; Website: www.itriaventures.com ; Revenue: $6 Subway the worlds largest sandwich chain is currently facing a class-action lawsuit in the state of California There are lots of varieties on offer, including Lemon & Thyme, Basil, Chilli & Garlic, Terriyaki and Soy & Ginger. Some companies' aggressive, even menacing, collection techniques are documented in video, recordings and emails provided to NBC News. Call the police I don't care.". A former stockbroker, she won the Pulitzer Prize in 2002 for her "trenchant and incisive" reporting on Wall Street. He didn't talk too much about how it was secured or the workings of it.". 595072/2020. At closing, Lotus Exim drew down on the line of credit and used the proceeds to pay off its obligations to the Pre-2017 Senior Lenders and to Itria pursuant to the Pre-Closing FRSAs (id., 60). Merchants like Indelicato have been hammered by the coronavirus outbreak. Now those sales are nonexistent but PowerUp's suit demanded immediate payment of almost $91,000, plus legal fees. Coreless Stretch Film; Pre-Stretch Film; Hand Roll; Machine Roll; Jumbo Roll; Industrial Plastic Division. ITRIA VENTURES LLC vs HELPING HANDS HOME HEALTH SERVICE. Itria's marketplace lending platform makes funds available to small businesses. But, as alleged in the Third-Party Complaint, the Itria Parties knew that the information that Biz2Credit was providing to Provident was false (id., 33). The following e-filed documents, listed by NYSCEF document number (Motion 008) 180, 181, 182, 183, 184, 185, 186, 221, 222, 223, 224, 225, 226, 227, 228, 229, 230, 231, 232, 233, 234, 235, 236, 237, 238, 239, 240, 241, 242 were read on this motion to/for DISMISS. NO. . Civil No. If the merchants fall behind on their payments, some lenders send threatening emails and texts and even pay visits to borrowers' homes to try to collect, lawyers and small business owners say. In September 2019, the complaint alleges, Itria lent InvenTel $244,500, with $305,000 to be paid back at $1,613.76 per day, an interest rate of around 47.79%. Itria Ventures LLC | The Department of Financial Protection and Innovation Itria Ventures LLC License or Case Number: CFL # 60DBO-35839 Date of Initial Action: 12/30/19 Defendants/Respondents: Itria Ventures LLC Contact/Customer Service phone number: (302) 295-3828 Documents: 12/30/19 - Order Summarily Revoking (PDF) 03/23/20 - Consent Order (PDF) Questions Post Question ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named Itria Ventures LLC Search All New York Companies Paul and his team were very transparent during the entire process. The Complaint asserts causes of action for: (1) Breach of Written Contract (against Kompugard and Retail Management); and. The agreements are enforceable contracts the borrowers have agreed to, lawyers say, but some of the aggressive collection practices, such as visiting borrowers' homes, aren't legal, they contend. ITRIA VENTURES LLC, A DELAWARE LIMITED LIABILITY COMPANY VS GLOBAL NRGY LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. Court documents show that amid the pandemic, so-called merchant cash advance companies are pursuing legal claims against owners that freeze their bank accounts and are pressing their family members, neighbors, insurers, distributors even their customers for money the lenders say they're owed. In mid-2018, Runion, an oral surgeon, wanted to add a second location to his practice and had initial approval from a bank for financing. Moreover, Provident alleges that Itria continued extending financing to Lotus Exim pursuant to the Pre-Closing FRSAs and subsequently entered into 22 additional Post-Closing FRSAs with Lotus Exim pursuant to which Itria acquired all of the Lotus Exim's accounts receivable at a discount, and that it did so knowing that Provident had a first priority security interest in 100% of Lotus Exim's accounts receivable. Here, Provident alleges that Biz2Credit, at the direction of Itria and Mr. Arora, represented to Provident that Lotus Exim conducted business at three locations and owned all of the inventory at each location, together with the accounts receivable therefrom, with a total value of $6,000,000, and that it provided such materials and information to Provident to induce it to issue the line of credit to Lotus Exim (Third-Party Compl., 184-186). Taken as true for the purposes of this motion to dismiss, the allegations in the Third-Party Complaint are sufficient to sustain Provident's sixth cause of action, which the court construes as a fraud claim. Itria Ventures provides a platform through which institutional investors can access small businesses looking for funding through a proprietary online dashbo Contact Who is Itria Ventures Headquarters 1000 N West St Ste 1200, Wilmington, Delaware, 19801, United States Phone Number (302) 295-3828 Website www.itriaventures.com Revenue $6.9M Industry As discussed below, this cause of action is dismissed only inasmuch as it is duplicative of the other fraud claim asserted (sixth cause of action) and because "civil conspiracy to commit fraud" is not a separate cognizable cause of action, but a theory on which a party may proceed in asserting its claim for fraud. And, inasmuch as there is a cause of action for fraud (i.e., the sixth cause of action) the third cause of action is dismissed as duplicative of the sixth cause of action (fraudulent misrepresentation), however, the facts underlying the third cause of action may continue to be the basis for the remaining fraud claim asserted. Motion sequence numbers 007 and 008 are consolidated for disposition. Public Records Policy. REQUEST FOR ENTRY OF JUDGMENT IS CONDITINALLY GRANTED. A debt settlement company being sued by Itria Ventures in Miami-Dade County, FL was asked to prove its claim that it has managed over $1.5 billion in total debt, court records show. The complaint alleges that the companies offer future receivables purchases rather than loans, but that they renege on terms of the financing, charge usurious interest rates, and engage in racketeering. Owners must also give the lenders unfettered access to their bank accounts for the automatic withdrawals. This case was filed in Dallas County District Courts, Dallas County Civil District Courts located in Dallas, Texas. Itria filed its lawsuit against that client on March 19 in a New York court for $282,000. Fill out this form for a FREE and prompt case evaluation. Significantly, Provident alleges that Mr. Arora personally assured Provident that he would assist Provident by talking to Lotus Exim about its funneling of accounts receivables through unauthorized, non-Provident accounts, but concealed the fact that Lotus Exim was acting at his direction (id., 93). Accordingly, the motion to dismiss the sixth cause of action is denied. NO. He stopped paying around Thanksgiving and hired a restructuring firm, Second Wind Consultants, to help him work out the loans. Lawsuit Filings Itria Ventures Hit with Class Action Over Allegedly Shady Money-Lending Based on Future Receivables [DISMISSED] February 9, 2022 A New Jersey company alleges in a class action that Itria Ventures has engaged in a number of fraudulent practices with regard to loans and other transactions. "You can't have people freezing assets and demanding payments at a time like this. But aggressive lenders are still trying to extract money from their empty coffers. J. 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"They're all capitalizing right now on the virus," a beleaguered borrower said, "and saying they are there to help you.". Where a complaint alleges fraud, "the circumstances constituting the wrong shall be stated in detail" (CPLR 3016 [b]). The most common arrangements between these companies and small business borrowers aren't technically loans, and therefore their terms and the companies offering them aren't regulated. That translates into $60,812.50 in interest in only 210 days or an annualized interest rate of approximately 43.29% which is well over any reasonable interest rate and fully criminally usurious, the complaint alleges. In addition, the money that is the subject of a conversion claim "must be specifically identifiable and be subject to an obligation to be returned or to be otherwise treated in a particular manner" (Republic of Haiti v. Duvalier, 211 AD2d 379, 384 [1st Dept 1995]). Merchant cash advance companies like PowerUp aggressively cold-call, email and text small business owners offering quick and easy funding, merchants told NBC News. Abstract of Judgment - Civil and Small Claims; Issued by: Itria Ventures LLC, a Delaware limited liability company (Plaintiff), Notice of Rejection - Post Judgment; Filed by: Clerk, Writ of Execution (San Francisco ); Issued by: Itria Ventures LLC, a Delaware limited liability company (Plaintiff); As to: Itria Ventures LLC, a Delaware limited liability company (Plaintiff); Kompugard, Inc., a California Corporation (Defendant); Retail Management Solutions, Inc., a Delaware Corporation (Defendant); County: San Francisco, Writ of Execution (Los Angeles); Issued by: Itria Ventures LLC, a Delaware limited liability company (Plaintiff); As to: Kompugard, Inc., a California Corporation (Defendant); Retail Management Solutions, Inc., a Delaware Corporation (Defendant); Ariel Goldenstein (Defendant); County: Los Angeles, Notice of Entry of Judgment; Filed by: Itria Ventures LLC, a Delaware limited liability company (Plaintiff); As to: Kompugard, Inc., a California Corporation (Defendant); Retail Management Solutions, Inc., a Delaware Corporation (Defendant); Ariel Goldenstein (Defendant), On the Complaint filed by Itria Ventures LLC, a Delaware limited liability company on 07/23/2021, entered Order for Dismissal with prejudice, does 1-50, Updated -- Certificate of Mailing [Notice of Case Management Conference filed on 07/26/2021]: Name Extension: [Notice of Case Management Conference filed on 07/26/2021]; As To Parties: removed, Address for Jason S. 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