Teague Says He'll Resolve Payment Dispute

Rep. Harry Teague, D-N.M., said he plans to quickly resolve a payment dispute that led to the filing of a $2.7 million civil suit against him and four of his companies in state District Court in Lovington last month.

In a written statement issued by his office, Teague said that, when he was elected to Congress in 2008, he “turned over all day-to-day management of the company’s operations” and was “initially unaware of the lawsuit that was filed by one of the company’s banks.”

Maryland-based SunTrust Equipment Finance and Leasing Corp., a division of SunTrust Banks, filed suit June 14 seeking payment from Teague and four companies: Teaco Energy Services Inc., Teaco Drilling Inc., Eunice Well Servicing Co. and ABC Rental Tool Co.

Read more: (Rene Romo, “Teague Says He’ll Resolve Payment Dispute,” Albuquerque Journal, 07/02/2010)