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Lawsuit filed by the First National Bank in Altus against Quartz Mountain Aerospace, Inc. (formerly Luscombe), First State Bank Altus, Oklahoma Industrial Finance Authority, the Altus Municipal Authority and Universal Funding Corporation.
Altus Venture a sister subsidiary of First State Bank Altus is believed to be the major owners of Quartz Mountain Aerospace, Inc.
The suit by the bank seeks foreclosure action against the aircraft corporation in connection with loans of $250,000 in 2005 and $200,010 in 2006. The suit filed in Jackson County District Court requests that equipment of the firm be sold to cover the debt. They also allege that the banks earlier loans should be paid off ahead of later loans that were provided through the Municipal Authority.
In The District Court And For Jackson County State Of Oklahoma
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First National Bank In Altus Vs. Quartz Mountain Aerospace |
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| Indebtedness | ||
| Case | CJ-09-00012 | |
| Date Filed | 01/13/2009 | |
| Plaintiff | First National Bank In Altus - Altus Ok | |
| Defendant | Quartz Mountain Aerospace | |
| Defendant | First State Bank Of Altus - Altus Ok | |
| Defendant | Oklahoma Industrial Finance Authority | |
| Defendant | Altus Municipal Authority | |
| Defendant | Universal Funding Corporation | |
| Judge | Darby, Richard B. | |
| Plaintiff Atty. | Vernon, Rick K. - Altus Ok | |