Fairville Company

September 29, 2017Dear [redacted]:I represent The Fairville Company, L.P. and its affiliated companies (collectively, the "Company’) and have been asked to respond to your letter of September 14, 2017 in the abovereferenced matter.The Company is a commercial lender that finances truck purchases and...

engine overhauls for commercial trucking businesses. In this matter, the Company's customer is [redacted] ("[redacted]”). The Company made a loan to [redacted] to finance an overhaul of an engine for a commercial vehicle (the “Loan'), secured by a lien on the commercial vehicle (the "Collateral'). Such work is done by non-affiliated third-party repair companies that are authorized by the engine manufacturers to refurbish the equipment. The Company neither owns any such repair companies nor does it provide any warranties to its borrowers. It would be the responsibility of [redacted] to enforce any third-party warranty. The Company has no way to know if [redacted] has done so.On or about August 22, 2016, [redacted] stopped paying on the Loan and notified the Company that it had abandoned the Collateral in Wyoming. Abandonment of the Collateral constituted a default under the Loan. Despite the allegations in the complaint, the Company's employees had numerous conversations with [redacted]'s principals over the past year to discuss the Loan, the default and the condition and location of the Collateral. Approximately three weeks ago, [redacted] left a message with one of the Company's employees stating that she had contacted a lawyer to resolve this issue and threatened to sue the Company. At that point, the Company contacted me and I sent the attached letter to [redacted] and its principals, both electronically and by mail, requesting that their counsel contact me to discuss the Loan and the default and demanding that they cease and desist from any further threats. To date, no counsel for [redacted] has contacted me.To address the allegations in the complaint directly, as noted above, the Company made the Loan, [redacted] defaulted on the Loan and abandoned the Collateral. The Company does not provide any repairs or warranties on such repairs, which are made and warranted by unrelated third-parties chosen by the customer from the many factory-authorized repair facilities for this type of equipment. In spite of the allegation in the complaint, the Company does not provide any warranties. It is the customer's responsibility to enforce the terms of any third-party warranty; the Company has no way of knowing if [redacted] either made a claim or, if made, if such a claim resulted in any payment to [redacted]. Certainly, the Company has not received any payments on the Loan since July 21, 2016. After receiving notice that the customer had engaged counsel and threatened a lawsuit, I instructed the Company, and [redacted] in writing, that any further discussions should be done through counsel.Furthermore, the Company made the Loan in October 2015, and [redacted] made only 8 payments. The Company received [redacted] last payment on the Loan on or about July 21, 2016.The Company believes that [redacted]'s allegations in this complaint are unfounded and merely an attempt to avoid responsibility for the balance due on the Loan.Please feel free to call me if you have any further questions.Very truly yours,Christopher P. F