Another bank sues School Bus, Inc. for $1 million in defaulted loans

Another bank is going after the owner of School Bus, Inc., Steven Hey, for defaulting on not one but two other loans.

This time the amount totals more than $1 million, and collateral includes at least six 2019 school buses and one 2018 school bus, according to court documents.

The lawsuit was filed Tuesday by Reliabank Dakota, days after the Argus Leader broke news about a previous lawsuit involving Frontier Bank, which alleged the company defaulted on a separate unrelated loan of more than $500,000.

"Communication is ongoiong, and we hope everybody comes together and we can reach a resolution," said attorney James Roby, whose firm Green, Roby, Oviatt, LLP, represents Reliabank. "That's what we're working on."

Read more: https://www.argusleader.com/story/news/education/2019/09/05/another-bank-sues-school-bus-inc-1-million-defaulted-loans/2220634001/