A Portage auto dealer is being sued by another local firm for more than $1 million for allegedly failing to repay a series of loans.
N.M. Tilley Realty Ltd., also of Portage la Prairie, recently filed court documents alleging over a period of 11 months in 2010 it loaned businessman Mark Ram and his auto dealership, Mark’s Auto Sales Inc., a series of loans totaling more than $1 million.
Tilley states in the documents the loans were made to finance the vehicle purchases of Mark’s Auto Sales but alleges the bulk of the loans were never repaid.
Tilley is asking the court to award it $1,095,155 plus 10 per cent interest.
The allegations have not been proven in court. A statement of defence has not been filed. A court date has not been set.
Mark Ram told the Free Press that he did not want to comment about the law suit.