NEC Financial Services, LLC, a financial services company specializing in equipment leasing and financing, has filed a lawsuit against a medical clinic and its associated parties over alleged defaults on financial agreements.
The complaint was filed in the United States District Court for the Eastern District of New York on January 7, 2025, targeting Medicas Medical Clinic, Grace Oasis Personal Care Home LLC, and Sarah President.
The case involves an Equipment Finance Agreement that NEC Financial Services claims Medicas Medical Clinic defaulted on by failing to make required payments.
According to the filing, NECFS seeks a judgment declaring the clinic in default. President is accused of breaching a personal guaranty agreement, while Grace Oasis Personal Care Home LLC is alleged to have defaulted under a corporate guaranty agreement related to the same finance deal.
NEC Financial Services states that Medicas Medical Clinic failed to pay monthly installments starting on May 1, 2024. Despite demands for payment through a letter dated June 14, 2024, no payments were made.
As a result, NECFS is seeking damages of $108,224.44, plus additional costs and attorney fees.
The plaintiff asserts that both the personal and corporate guaranty agreements executed by President and Grace Oasis are enforceable instruments for payment of money due under the finance agreement.
The court filing also details that NECFS repossessed collateral equipment after Medicas Medical Clinic surrendered it due to an inability to meet financial obligations. The equipment was sold for $30,000 gross, with net proceeds of $24,000 applied toward reducing the outstanding debt.
NEC Financial Services seeks joint and several judgments against all defendants for breach of contract and unjust enrichment due to non-payment despite benefiting from financed equipment.
Representing NEC Financial Services are attorneys Michael F.J. Romano and Evan J. Salan from Romano Garubo & Argentieri Counselors at Law LLC, based in Woodbury, New Jersey. Case ID: 2:25-cv-95.