Here is the complaint, filed in the Eastern District of Missouri:
Update: Case voluntarily dismissed ten days after filing — 4 DCT Order
Here are snippets of the alleged facts:
6. Brule Community is the lender and Western Holdings is the borrower of a certain $22,519,638 note, that is guaranteed by the United States Government under the Department of Interior, Bureau of Indian Affairs, Loan Guaranty Certificate No. G103D1A1501.7. Brule Community wanted to monetize their United States Government guaranteed loan to Western Holdings and realize cash for other development projects.8. Eagle offered to consult with and help Brule Community monetize their loan into cash.9. Eagle and Brule Community entered into their first written contract on August 23, 2011.10. That August 23rd, 2011 contract promised Eagle a 5% fee from Brule Community.11. On September 22nd, 2011 a second agreement was entered into between Brule Community and Eagle, which adopted the 5% fee from the August 23rd, 2011 contract.12. On December 21, 2011 a third agreement was entered into between Brule Community and Eagle.13. That December 21, 2011 contract promised Eagle a 5% fee from Brule Community, with the bonus payment of 1% more (6% total) if the transactions closed prior to January 30, 2012.14. On January 20, 2012 Brule Community entered into an agreement to sell their loan agreement with Western Holdings to Seaport Loan Products LLC (hereinafter “Seaport”) for $19,254,290.00.15. The trade confirmation stated, “All Parties to use best efforts to settle in 5-10 business days.”16. The trade did not settle in 5-10 days.***20. All parties, Brule Community, Western Holdings, Eagle, Seaport, and Farm Credit Services of America (the ultimate buyer, hereinafter “Farm Credit”) continued their efforts to settle the trade according to the second trade confirmation.21. Unknown to Eagle, Seaport, and Farm Credit, Brule Community had begun negotiations with Great American Insurance Group (hereafter “Great American”).22. Brule Community and Western Holdings, in a recorded conversation through their CEO, President, and officer, assured Eagle that “One, you are going to get paid, and two, the note is not going to get sold out from under you.”23. Brule Community never informed Eagle, Seaport, or Farm Credit that it was negotiating with another buyer.24. Brule Community never gave notice to Eagle or Seaport that there was a deadline by which the Seaport trade must close.25. Brule Community never gave notice to Eagle or Seaport that it was cancelling the trade with Seaport.26. Upon information and belief, Brule Community monetized their loan to Western Holdings for an amount greater than $19,254,290.00.27. Brule Community is refusing to settle their trade with Seaport and Farm Credit.
28. Brule Community is refusing to pay Eagle their 6% fee.