), ITRIA VENTURES, LLC vs. NEW WORLD WHOLESALE INC., et al, 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, DISMISSAL FOR WANT OF PROSECUTION; Judicial Officer: MOYE', ERIC; Hearing Time: 2:00 PM; Cancel Reason: CASE CLOSED, CITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: ADEEL MEMON, CITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: MAFHH DISTRIBUTOR #1 LLC, CITATION; Unserved: Anticipated Server; ESERVE: Anticipated Method; Comment: NEW WORLD WHOLESALE INC, Financial info for ITRIA VENTURES, LLC : CREDIT CARD - TEXFILE (DC); Receipt # 83073-2021-DCLK; ITRIA VENTURES, LLC $316.00, Financial info for ITRIA VENTURES, LLC : Transaction Assessment; ; $316.00, Financial: ITRIA VENTURES, LLC ; Total Financial Assessment $316.00 ; Total Payments and Credits $316.00. PROVIDENT BANK Plaintiff, v. BIZ2CREDIT INC., RAMIT AURORA, HIGHCREST CAPITAL, LLC, JIFFER SMALL BUSINESS LENDING FUND, LP, MARKETPLACE SPV, LLC, PRIME MERIDIAN CAPITAL MANAGEMENT, LLC, RANGER DIRECT LENDING FUND TRUST Defendant. A screenshot of a text sent to a small business owner. ITRIA VENTURES, LLC., Defendant. Breach of Written Contract (against Kompugard and Retail Management); and. Itria is a financial services firm in the business of providing financing to its clients by making loans and purchasing accounts receivable - typically referred to as a Merchant Cash Advance. "We have no intention of pursuing this matter at the present time," Feldman wrote. 17. 30494 (N.Y. Sup. 3:18-CV-765 (M.D. D). A lot of these companies had problems prior to coronavirus; they were on a payment plan and they defaulted.". Finally, one place to get all the court documents we need. 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This field is for validation purposes and should be left unchanged. "I will put you in the hospital and your family, call the police I don't care, you and your family will pay." Corp. v. Goldman, Sachs & Co., 25 NY3d 1043 [2015]). why is my cookies pen blinking purple is there mobile coverage across the nullarbor university of richmond women's basketball: schedule The notice warned that failure to pay the assessment would result in summary revocation of Itria's license. He said the actions were dropped because they worked out payment plans. I dealt with Paul and he made the process easy and smooth. On 12/16/2021 ITRIA VENTURES, LLC filed a Contract - Debt Collection lawsuit against NEW WORLD WHOLESALE INC . On February 22, 2023 a Commercial - Contract case was filed by Itria Ventures Llc, represented by Gitlin, Jonathan S., against Aaron Reid, Sentient Decision Science, Inc., represented by in the jurisdiction of Kings County. In addition, Provident alleges its efforts to verify the Due Diligence Materials and information provided by the Itria Parties were stymied by the Itria Parties' active concealment of critical information and by their misrepresentations of material fact. Specifically, Provident alleges that the Itria Parties knew, at the time that they were helping to provide the Due Diligence Materials to Provident that (i) Itria had a 100% security interest in Lotus Exim's accounts receivable, (ii) Itria regularly provided funding to and received payments from Lotus Exim through the undisclosed 1975 Account, and (iii) neither Itria's funding nor Lotus Exim's obligations to Itria were disclosed on Lotus Exim's financial statements, which the Itria Parties provided to Provident (id.). A motion to dismiss pursuant to CPLR 3211 (a) (1) will be granted only where the documentary evidence conclusively establishes a defense to the plaintiff's claims as a matter of law (Goshen v Mutual Life Ins. "Normally we're usually really busy. itria ventures ppp forgiveness. Before commenting, please review our comment policy. This class action involves financing provided to businesses by Itria Ventures, LLC and Biz2Credit, Inc. Toggle navigation. Smooth and Easy Process dealing with Paul Woods. The offers are alluring to owners who often operate on the edge and are strapped for cash. The following e-filed documents, listed by NYSCEF document number (Motion 007) 149, 150, 151, 152, 153, 154, 155, 156, 157, 158, 159, 160, 161, 162, 163, 164, 166, 167, 168, 169, 176, 177, 178, 179 were read on this motion to/for DISMISS. Shortly after NBC News spoke with Arora, Itria withdrew its court actions against Lone Spur and other small businesses, court records show. If you do not agree with these terms, then do not use our website and/or services. itria ventures ppp forgivenessmary calderon quintanilla 27 februari, 2023 . Under a typical deal, a business might receive $40,000 in exchange for agreeing to hand over $50,000 in future revenue over a few months. Biz2Credit, an affiliate of Itria, is a broker that assists businesses in applying for and obtaining financing (id., 2). Following the commencement of the bankruptcy proceedings of Lotus Exim and its affiliates, however, Itria took the position that each of Lotus Exim's locations was in fact a separate entity with its own separate accounts receivable and that Lotus Exim did not actually own any inventory or accounts receivable (id., 190-191). Thus, Provident reasonably relied on the Itria Parties' misrepresentations in making the loan to Lotus Exim and in continuing to extend additional financing, and that it would not have done so but for the Itria Parties' fraudulent conduct and would have frozen all advances and pursued its available remedies if it was not defrauded (id., 152, 153, 158, 159). The class for this action is all persons or entities who borrowed money from Itria Ventures or Biz2Credit using a nominal future receivables sale agreement or similar arrangement, between February 8, 2018 and February 8, 2022, whose funding was treated as a loan by Itria and Bz2Credit who sought repayment under all circumstances, even when the percentage of receivables set forth in the contract is less than the nominal daily amount of repayment. what gas stations sell slush puppies what gas stations sell slush puppies If revenue dries up and the money stops flowing, merchant cash advance companies can freeze business owners' accounts by filing so-called confessions of judgment. Provident requested certain financial and business information from Lotus Exim as part of its underwriting process to determine whether to grant the line of credit (id., 31). Runion said he told the cash advance companies that he didn't have the money to pay them. Although Provident may assert in the New Jersey action that it reasonably relied on the independent auditors and field examiners, there is no basis on which to preclude them from arguing here that they also relied on the documents and information provided to Provident by the Itria Parties - particularly when the allegations include knowingly false statements from Itria's general counsel that no further payoff was required because all obligations were satisfied in order to induce Provident to make the loan. 595127/2019 Second Third-Party Index No. The complaint contends that, since the transactions were loans and the rates of interest were usurious, they are considered to be unlawful debt under US RICO laws.. John Does 1-10 are fictitious names for individuals associated with either Itria Ventures LLC, Biz2Credit Inc., or both of them. Business is hurting, Kight said by phone. Bare legal conclusions are not accorded favorable inferences, however, and need not be accepted as true (Biondi v Beekman Hill House Apt. "The FTC has to seriously look at rules that ban some of the most extortionate clauses in these loan contracts," he said, adding that the FTC is prepared to "go after some of the loan sharks and their lawyers who run lawsuit mills that are filing some of these sham collection actions.". For an optimal experience visit our site on another browser. NOTICE OF DISMISSAL FOR WANT OF PROSECUTION, Cases involving agreements to pay a specific amount of money (promissory notes, loan and credit card agreements, checks, etc. Per the lawsuit, Itria and the plaintiff business entered into an agreement whereby the defendant loaned the company more than $244,000. But in this case, Provident alleges that it did make use of the means of verification that were available to it. Merchant cash advance companies like PowerUp aggressively cold-call, email and text small business owners offering quick and easy funding, merchants told NBC News. ITRIA VENTURES LLC vs HELPING HANDS HOME HEALTH SERVICE. He provided a photo to NBC News. Some business owners said they are being swamped with new texts and emails offering funds. To properly assert a cause of action for conversion, a plaintiff must allege (i) that the plaintiff has a possessory right or interest in the subject property, and (ii) the defendant has exercised dominion and control over the property or otherwise interfered with it, in violation of the plaintiff's right of possession (id., at 50). Why is this public record being published online? A lender is. Itria's marketplace lending platform makes funds available to small businesses. REQUEST FOR ENTRY OF JUDGMENT IS CONDITINALLY GRANTED. Get class action lawsuit news sent to your inbox sign up for ClassAction.orgs free weekly newsletterhere. amarillo by morning glen campbell; somers, ct real estate transactions; j'ai vu l'enfer et le paradis; coventry gangster jailed; kowalczyk funeral home obituaries; morryde door latch extender; sea run cutthroat nehalem river; And, Jiffer Small Business Lending Fund, LP (Jiffer), Marketplace SPV, LLC (Marketplace), Prime Meridian Capital Management, LLC (Prime Meridian), and Ranger Direct Lending Fund Trust's (Ranger, together with Jiffer, Marketplace, and Prime Meridian, collectively, the Investors) motion (Mtn. The argument, however, fails. 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. 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. itria ventures itria ventures llc itria ventures llc itria itria llc itriaventures Itria Ventures Global Presence Search All Employees Key Employees of Itria Ventures Jonathan Gitlin General Counsel Phone Email 11), invites this court to consider in a federal diversity . Defendants Sigmone and 0'Dell notarized the allegedly forged documents. Runion said the companies that advanced him cash have persuaded an insurer holding $40,000 in reimbursements for procedures he had already completed to send the money to the advance company, not to Runion. From 2014 through 2017, Itria entered into a series of Future Receivables Sale Agreements (the Pre-Closing FRSAs) with Lotus Exim International, Inc. (Lotus Exim) (id., 10; Third-Party Compl., Ex. chrysler capital lawsuit; who loves who more calculator. The companies generally provide a predetermined amount of money to a business in exchange for future receipts. Although a plaintiff asserting a cause of action for fraud based on the defendant's alleged omissions must establish a fiduciary relationship between the parties (EBC I, Inc. v Goldman Sachs & Co., 91 AD3d 211, 219 [1st Dept 2011]). It contains 23g, or half a daily serving, of protein, plus 7% of daily fiber, 20% of daily calcium and so on. ITRIA VENTURES LLC vs. WELLS FARGO BANK, NATIONAL ASSOCIATION. Itria, Biz2Credit Future Receivables Purchases RICO Complaint. Citations Copy Citation. The merchant cash advance companies often demand that borrowers also pay attorneys' fees, which can be 25 percent to 33 percent of the balance due under a borrower's agreement, documents show. Accordingly, it is ORDERED that Itria Ventures LLC, Biz2Credit Inc., and Ramit Arora's motion to dismiss the third (fraud and civil conspiracy), fourth (negligent misrepresentation), and sixth (fraudulent misrepresentation) causes of action asserted in Provident Bank's Amended Answer, Defenses, Counterclaim, and Third Party Complaint is granted solely to the extent the fourth cause of action is dismissed without prejudice and is otherwise denied; and it is further ORDERED that the third-party defendants are directed to serve an answer to the complaint within 20 days after service of a copy of this order with notice of entry; and it is further ORDERED that Jiffer Small Business Lending Fund, LP, Marketplace SPV, LLC, Prime Meridian Capital Management, LLC and Ranger Direct Lending Fund Trust's motion to dismiss the fifth cause of action (conversion) asserted in Provident Bank's Amended Answer, Defenses, Counterclaim, and Third-Party Complaint is granted and the fifth cause of action is dismissed without prejudice, and the Clerk is directed to enter judgment accordingly in favor of said third-party defendants; and it is further ORDERED that the action is severed and continued against the remaining third-party defendants; and it is further ORDERED that the caption be amended to reflect the dismissal and that all future papers filed with the court bear the amended caption; and it is further ORDERED that counsel for the moving party shall serve a copy of this order with notice of entry upon the Clerk of the Court (60 Centre Street, Room 141B) and the Clerk of the General Clerk's Office (60 Centre Street, Room 119), who are directed to mark the court's records to reflect the change in the caption herein; and it is further ORDERED that such service upon the Clerk of the Court and the Clerk of the General Clerk's Office shall be made in accordance with the procedures set forth in the Protocol on Courthouse and County Clerk Procedures for Electronically Filed Cases (accessible at the "E-Filing" page on the court's website at the address www.nycourts.gov/supctmanh). But there's nobody outside.". Still, the virus isn't the worst of Indelicato's woes, he told NBC News. (2) Breach of Written Guarantee (against Goldenstein). To wit, Provident alleges that Mr. Arora and his companies, Itria and Biz2Credit, were directing Lotus Exim not to deposit the funds into the Provident account but to deposit them into the 1975 Account so that Itria could receive the proceeds (id.). Biz2Credit provided Provident with (i) inventory and accounts receivable listings, (ii) information about Lotus Exim's existing bank accounts, (iii) audited financial statements for Lotus Exim, (iv) information regarding existing Itria UCC filings against Lotus Exim, and (v) the status of previous financing between Itria and Lotus Exim (collectively, the Due Diligence Materials) (id.). 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. Therefore, the Investors' motion to dismiss the conversion claim is granted. Itria Ventures LLC, a Delaware limited liability company vs All Pro Preparation, Inc., a California corporation et al. 2023-01-25. Guar. Runion concedes that he signed the documents that have created the problems. It contains no artificial flavors, preservatives or added colors from artificial sources. Legal filings by cash advance companies, including confessions of judgment filed against small businesses, have been ballooning amid the coronavirus crisis. Small businesses sued by Itria included a builder's company in Minnesota, a grocery in South Carolina, a Holiday Inn Express in Wyoming and a barbecue joint in Alabama, court filings show. The complaint claims Itria required Abdul to personally guarantee both loans. Los Angeles County Superior Courts | Contract | Make your practice more effective and efficient with Casetexts legal research suite. 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