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Court finds Defendant guilty and orders $304,000 in damages.
LOS ANGELES, CA, April 04, 2017 /24-7PressRelease/ -- Hilton Head Properties, Inc, announced, that the 95th District Court, Dallas Texas, awarded Plaintiff Hilton Head Properties a judgment of $304,000 plus attorney's fees for Breach of Contract by TRED Holdings LP of Houston, Texas.
Plaintiff's Chase D. Fonteno, Hilton Head Properties, Hilton Head Finance, and Gatsby Properties filed suit against TRED Holdings LLC, Jeffery Russell Burrell, ILS Rental LLC, Texas Real Estate Management and TRED Management LLC for acts of Fraud, Breach of Contract, Breach of Court Order, Slander, Libel, Disparagement and Tortious Interference with Plaintiff's Business - Cause No. DC-11-10429, Dallas County District Court, Texas.
"Having a lender do what Jeff and TRED Holdings did was bad enough, but homeowners were also dramatically affected," stated Chase D. Fonteno, President & CEO of Hilton Head Properties "and it took years to get this to trial to prove their action were of bad intent and a violation of law. The Court awarded us damages and found TRED guilty, but homeowners lost their homes over what they did - it was not right."
During 3 days of trial (March 19-21, 2013), numerous homeowners came to testify against TRED Holdings and Jeffery Burrell. On March 21 2013, the court ordered TRED Holdings, LP to pay Hilton Head Properties, LLC $304,000 in damages for breach of contract.
Defendant - TRED Holding LP - a Texas Company operated and partly owned by Jeffery Russell Burrell, is in the business of hard money loans to homeowners and investors. The Texas Secretary of State records show that TRED Holdings forfeited their right to do business in Texas on January 27, 2017.
Hilton Head Properties Inc., a Colorado company is a privately held multi-disciplined real estate investment firm specializing in the acquisition and owner-financed sale of single family residential housing and long-term investment in multifamily projects nationwide. Hilton Head makes home ownership available to buyers without using any governmental programs or assistance, by helping individuals purchase sub-par homes with little cash down, where the buyers are required to do their own home repairs. Currently Hilton Head has offices in Houston, Dallas, Fort Worth and San Antonio Texas and has announced plans to expand into 25 additional cities this year, including, El Paso, Denver, Detroit, Chicago, Tulsa, Oklahoma City and Atlanta over the next several months.
The statements made in this press release that are not historical fact are "forward-looking" statements which are based on current expectations that include a number of risks and uncertainties. This release is not made for the purpose of promoting any investment. Forward-looking statements in this news release, if any, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not meant for any solicitation.
Hilton Head Properties, Inc.
Travis Kasper, Legal Dept
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