Jermaine Dupri cites Sun Trust's inability to fulfill payment arrangements and more in a new counterclaim.
Atlanta-based producer Jermaine Dupri is now taking action in a lawsuit filed against him by SunTrust Bank several weeks ago. According to AllHipHop.com, Dupri recently filed a counterclaim against the bank, which is currently seeking nearly $2 million from the So So Def Records owner.
In his counterclaim, Dupri states that SunTrust failed to fulfill a number of payment arrangements the two parties previously agreed upon.
Among the arrangements was one that would have allowed the bank to pull money from Dupri’s EMI publishing royalties as loan repayment for his taxes. According to the Atlanta beatsmith, SunTrust failed to do so and as a result he was penalized by the government.
Dupri also claims that loan documents were never made available for review to his legal team and that he never received the closing papers for his loan agreement with SunTrust.
Last month, it was revealed that SunTrust would be suing Dupri for a sum of $1.9 million due to a loan he defaulted on. As a result, the producer could possibly lose various properties, including his home, due to the lawsuit.
In 2011, Dupri faced a similar legal issue when he was sued by an Atlanta woman for missed child support payments. That particular lawsuit shortly followed news that the So So Def leader narrowly avoided foreclosure on his Atlanta home.