ROCKFORD — The Phantom Regiment Drum and Bugle Corps is being sued for defaulting on a $450,000 bank loan.
The suit, filed Dec. 16, lists Rescomm Holdings No. 2 LLC, as the plaintiff.
According to the suit, the Rockford-based Phantom Regiment took out a $450,000 loan on March 7, 2000, but has failed to maintain payments. Rescomm is trying to collect on an outstanding balance of $367,563.67.
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