HWRT Oil Sues T-Rex Petroleum

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HWRT Oil Sues T-Rex Petroleum

11/24/2004
GRANITE CITY, Ill. -- HWRT Oil Co. filed a four-count lawsuit against T-Rex Petroleum Inc., T-Rex Corp. and Craig and Susan Nesbit, the principals of T-Rex and operators of T-Rex Convenience Stores, alleging that the defendants owe HWRT Oil $115,771.48, The Madison County Record reported.

HWRT alleges T-Rex is in default of its obligations under a credit and guaranty agreement.

The suit seeks to recover an amount in excess of $200,000 for breach of contract and unjust enrichment as well as attorney fees, prejudgment, and any other relief the court deems just and proper, the report stated.

According to the complaint, HWRT claims the Nesbits entered into a guaranty agreement, which among other things provides that guarantors are each primarily liable under the agreement regardless of whether HWRT pursues any of its remedies against T-Rex or any other guarantor, according to the newspaper.