Encore Bank v. Kor Hospitality LLC, et al.

IN THE UNITED STATES DISTRICT COURT EASTERN DISTRICT OF ARKANSAS CENTRAL DIVISION ENCORE BANK PLAINTIFF v. CASE NO. 4:24-CV-00710-BSM KOR HOSPITALITY LLC, et al. DEFENDANTS ORDER Encore Bank’s unopposed motion for summary judgment and for judgment foreclosing its security interest in Kor Hospitality, LLC’s tangible and intangible personal property [Doc. No. 18] is granted.

Kor Hospitality, LLC executed and delivered a promissory note to Encore Bank in the amount of $500,000. See Statement of Undisputed Material Facts ¶ 1, Doc. No. 20. To secure the note, Kor Hospitality conveyed a security interest in its tangible and intangible personal property. Id. ¶ 2. Moreover, Kor World, LLC, Eugene Amano, and James Moore executed guaranty agreements in which they agreed to be unconditionally liable for Kor Hospitality’s obligations. Id. ¶¶ 4, 6. The payments due on Kor Hospitality’s promissory note are now in default and payment has not been received by Encore. Id. ¶ 8. As of August 13, 2024, the unpaid principal of $499,684.72, accrued interest of $16,484.74, and late charges of $1,436.90 were owed, with interest accruing at a rate of $138.80131 per day. Id. ¶ 9.

Summary judgment is appropriate when there is no genuine dispute as to any material fact, and the moving party is entitled to judgment as a matter of law. See Fed. R. Civ. P. 56(a); Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 249-50 (1986). Once the moving party demonstrates that there is no genuine dispute of material fact, the non-moving party may not rest upon the mere allegations or denials in their pleadings. Holden v. Hirner, 663 F.3d 336, 340 (8th Cir. 2011). Instead, the non-moving party must produce admissible evidence demonstrating a genuine factual dispute requiring a trial. Jd. All reasonable inferences must be drawn in a light most favorable to the non-moving party. Holland v. Sam’s Club, 487 F.3d 641, 643 (8th Cir. 2007). The evidence is not weighed, and no credibility determinations are made. Jenkins v. Winter, 540 F.3d 742, 750 (8th Cir. 2008).

Encore’s statement of undisputed facts [Doc. No. 20] is unopposed and the facts contained therein are therefore deemed admitted. Encore’s motion for summary judgment is also unopposed and is therefore granted, and Encore is directed to submit a proposed judgment ordering foreclosure of its security interest in Kor Hospitality’s collateral.

IT IS SO ORDERED this 7th day of January, 2026.

UNITED STATES DISTRICT JUDGE