Bilfeld v. Town & Country Restaurant LLC et al
Filing
34
MOTION by Plaintiff David Bilfeld for judgment [Application For Default Judgment] (Attachments: # 1 Affidavit, # 2 Exhibit, # 3 Exhibit, # 4 Exhibit, # 5 Declaration, # 6 Exhibit, # 7 Exhibit, # 8 Exhibit, # 9 Exhibit, # 10 Exhibit, # 11 Exhibit, # 12 Exhibit, # 13 Exhibit, # 14 Exhibit, # 15 Exhibit, # 16 Text of Proposed Order)(Spak, Donald)
Bilfeld v. Town & Country Restaurant LLC et al
Doc. 34 Att. 1
IN THE UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS, EASTERN DIVISION
DAVID Bl[FE[D, Plaintiff,
vs.
TOWN & COUNTRY RESTAURANT LtC, ETHAN HUDSON, lNC., and BRIAN ELDRIDGE,
Defendants.
09 c7742 Judge Dow Magistrate Judge Schen kier
AFFIDAVIT OF DAVID BItFEtD
David Bilfeld, under penalty of perjury, deposes and states as follows:
1.
I am the plaintiff in this case and am competent to testify as to the
facts stated in this affrdavit
if called
as a witness
in this case. I am a citizen of
Scottsdale, Arizona. This affidavit is submittecl to explain how I invested $100.000
in Town & Country Restaurant LLC.
2.
During March 2008, Brian Eldridge was the promoter of Town &
Country Restaurant LLC (the "LLC"), which intended to develop and open a
restaurant at 525 W. Monloe, in Chicago. The LLC's manager was Ethan Hudson,
fnc., an Illinois corporation of which Brian Eldridge was the president.
3. 4.
Brian Eldridge gave me the attached Confidential Offering
Memorandum (Exhibit B) soliciting subscriptions in the LLC.
Page 1 of the Confidential Offering Memorandum states that all paid
subscription proceeds will be held in a bank account until the LLC raises at least
$1,200,000:
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'l'he proceeds ol'this Oft'cring shall bc tleposited in a non-intcrcst bcaring account o[ the andshall not bc used hy thc l.l-(l until tht: latcr ol'thc datc that (.,\) ot lcast 120 l)rclcrrcd l.l-C: ljnits havc bccn subscribcd for (S1,100.000 ruised) and (U) thc t.t,C has cntu'rcd irtto a satislactory lca-sc lor thc proposcd spacc ("Proposed Spircr:") lor thc rcslaurilnt to bc orutcd b1' thc LLC ilt -5?-5 W. \.tonroc, Chicago. Illinois 60661. Iiat lcust ll0 l'rclcrrcrl L-lnits (S1,2(X).0(X) of procccds) lravc h{jsn subscribcd lirr in accordancc rvith thc tcmts of this Otltring iurd the I-l,Cl has entcrcd into a .satisfactor). k'iL.ic lbr thc Proposecl Spacu. thc procccds of'this ()fl'cring shull beconrc immediatcll'availahle to thc Ll.C.
5.
This condition guaranteed that the LLC would be adequately
capitalized to develop the intended restaurant, and any subscription payment would be safe and not rnacle available to the LLC until the LLC raised at least
$1,200,000. In reliance upon this condition,
I decided to invest in the LLC.
6.
On March 7, 2008,
I
gave my $100,000 subscription check payable to
Town & Country Restaurant LLC to Brian Eldridge to purchase one $100,000 Preferred Unit in the LLC in reliance on the Confidential Offering Meurorandum's
promise that the project would be adequately capitalized and my subscription payrnent woulcl be held in a non-interest bearing accottnt until the LLC raised at
least $1,200.000 in subscriptions.
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7.
i
Here is the
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image of my $100,000 check, showing that
it
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was deposited into au account at J.P. Morgan
Chase Bank, N.A.
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8. 9.
I periodically called Brian Eldridee for status reports. When he
refused to speak with me, I engaged counsel. On November L2, 2009, my attorney sent the attached letter inquiring
as to how many subscriptions have been received and where the proceeds are being
held. Neither my attorney nor I received a response to the inquiry,
my attorney to file suit.
so
I directed
10.
The facts stated in this affidavit are true and correct.
DAVID BILFELD Plaintiff
Donalcl F. Spak 180 North LaSalle St., #1801 Chicago, IL 60601 (312) 214-1818 Attorneys for Plaintiff David Bilfeld
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