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Bess Eaton Lawsuit


$308,000 settlement in bankruptcy related lawsuit.


Bess Eaton

Providence, RI: (Sep-19-07) UPS brought a lawsuit against Louis A. Gencarelli Sr., owner of the defunct Bess Eaton coffee and doughnut shop chain, alleging that the eatery owed UPS money when it declared bankruptcy in 2004. UPS wanted a loan penalty payment from Gencarelli as a result of bankruptcy filings in 2004 that cleared the way for a Canadian restaurant chain to buy Bess Eaton. Sources claimed that a UPS financing arm, UPS Capital Business Credit, had loaned Bess Eaton $7 million in 2002, $5 million in a 30-year note and $2 million in a 20-year note. Tim Hortons Inc. paid $41.6 million for 42 Bess Eaton shops in a bankruptcy court auction two years later. The money, plus $3 million more generated from the sale of other Bess Eaton properties, was enough to pay all the interrelated debts of Bess Eaton and Gencarelli. UPS Capital claimed that paying off the loans early triggered a $200,000 prepayment penalty. Gencarelli disagreed, and the two sides have been arguing about it ever since. In a settlement reached, Gencarelli agreed to pay UPS $308,000 in a recent ruling by the First US Circuit Court of Appeals. [PROVIDENCE JOURNAL: COFFEE SHOP BANKRUPTCY]


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Bankruptcy

How do you recover money from a stop payment placed on a personal check given to you?
you can always take them to small claims court and sure them for 3 times the amo...

Protection from damages from Internet advertising fraud for owners of an Incorporated company?
The "corporate veil" that ordinarily protects business owners and managers from ...

Does a Chapter 7 bankruptcy discharge a secured mortgage loan?
Yes if you file they cannot sue you to the knowledge I know. My brother is in re...

Once a storage company takes possession of a stored asset and attempts to sell it to satisfy delinquent storage fees, can they continue to charge for storage?
what we found out is that the guy held onto the car since 99 and now wants all s...

I have a collection account on my credit report which states a later "account opened" date than the original creditor's default date on the very same report. What should I do? Do not want to file for bankruptcy.
You might consider contesting the account problem in question. If you call the c...


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