Regions Bank, dba Ascentium Capital as successor by merger to Ascentium Capital, LLC v. Red Man Trucking, Inc., et al.

CourtDistrict Court, D. Maryland
DecidedDecember 8, 2025
Docket8:24-cv-02541
StatusUnknown

This text of Regions Bank, dba Ascentium Capital as successor by merger to Ascentium Capital, LLC v. Red Man Trucking, Inc., et al. (Regions Bank, dba Ascentium Capital as successor by merger to Ascentium Capital, LLC v. Red Man Trucking, Inc., et al.) is published on Counsel Stack Legal Research, covering District Court, D. Maryland primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Regions Bank, dba Ascentium Capital as successor by merger to Ascentium Capital, LLC v. Red Man Trucking, Inc., et al., (D. Md. 2025).

Opinion

IN TFHOER U TNHIET EDDIS STTRAITCETS O DFI SMTARRICYTL ACNODU RT (Southern Division)

REGIONS BANK, dba ASCENTIUM * CAPITAL as successor by merger to * ASCENTIUM CAPITAL, LLC, * * Plaintiff, * * vs. * Civil Action No. 8:24-cv-02541-TDC * RED MAN TRUCKING, INC., et al., * * Defendants. * ****** REPORT AND RECOMMENDATION

This is a case concerning a breach of a contract and guaranty. Plaintiff, Regions Bank, doing business as Ascentium Capital, brings this suit against Red Man Trucking, Inc. for failing to make monthly payments required under a financing agreement that the parties agreed to. The Plaintiff also brings suit against Rodney Hill, guarantor of the contract, for failing to pay amounts owed under the contract after Red Man Trucking, Inc. failed to perform. Plaintiff now moves for Default Judgment, ECF Nos. 21, 26. After a hearing on the Motion for Default Judgement on October 1, 2025, the Court ordered supplemental briefing along with additional exhibits as needed addressing the calculation of damages. ECF No. 24. Plaintiff filed its Amended Motion for Default Judgment on October 27, 2025. ECF No. 26. For the reasons explained below, the Court shall grant the Amended Motion and recommend that damages be awarded in the amount of $146,838.47; attorney fees totaling $10,895.63 and costs totaling $964.80; and prejudgment 1 interest accruing from November 1, 2023, through entry of judgment herein at the per diem rate of $69.59.1 BACKGROUND

I. Factual Background

According to the Complaint, Plaintiff Regions Bank is an Alabama state-chartered bank with its principal place of business in Alabama. ECF No. 1, at 2. Ascentium Capital LLC was a Delaware limited liability company with its principal place of business in Texas. Id. On March 31, 2023, Ascentium Capital, LLC and Regions Bank merged and Regions Bank assumed Ascentium Capital, LLC’s assets and liabilities. Id. As of the merger, Ascentium Capital is a division of Regions Bank. Id. Consistent with the Complaint, the Court will refer to the pre- merger entity, Ascentium Capital, LLC, and the post-merger division of Regions Bank, Ascentium Capital, collectively as “Lender” or “Plaintiff.” See id. Lender provides financing loans to customers and does business throughout Maryland. Id. at 4. On or about January 28, 2021, Lender and Defendant Red Man Trucking, Inc. (“Defendant Red Man Trucking”) entered into an agreement entitled “Equipment Finance Agreement, No. 2584523” (“EFA”). ECF No. 1, at 4; ECF No. 1-2, at 2–17. Defendant Red Man Trucking is a Maryland corporation with its principal place of business at 6224 Gothic Lane, Bowie, Maryland 20720. ECF No. 1, at 2. The EFA granted Lender a security interest in the collateral, a used truck described in the EFA as “2020 Kenworth W990 Truck, VIN #1NK1XPEX9LJ428175,” which was purchased by Defendant Red Man Trucking with the funds given to create the security interest.

1 Plaintiff’s Proposed Order and Motion requests $146,828.47 in actual damages. ECF No. 26-1, at 4; ECF No. 26-4, at 1. However, the sum total of the past due payments ($32,696.91), late charges ($5,086.19), collection expenses ($630), and future payments ($108,425.37) listed in the supporting Declaration, ECF No. 26-2, at 4, is $146,838.47. 2 ECF No. 1, at 4; ECF No. 1-2, at 2, 17. The Lender loaned Defendant Red Man Trucking a total of $206,854. ECF No. 1, at 4; ECF No. 1-2, at 11. Defendant Rodney Hill (“Defendant Hill”) signed the EFA on behalf of Red Man Trucking as its president. ECF No. 1-2, at 2–4. Defendant Hill also signed the EFA in his individual capacity as a guarantor and agreed to “unconditionally guarantee . . . the payment and performance when due of all of the obligations of [Red Man Trucking] under this EFA[.]” ECF No. 1-2, at 2. The guaranty agreement goes onto state that Lender may proceed against the guarantor before proceeding against Defendant Red Man Trucking and that Defendant Hill agrees to “pay [Lender] all expenses in enforcing this Guaranty.” Id. Under the EFA, Defendant Red Man Trucking agreed to make seventy-two (72)

consecutive monthly payments of $3,632.99 for a total amount of $261,575.28. ECF No. 1, at 4; ECF No. 1-2, at 2. Under the terms of the EFA, failure to pay any amount due under the EFA constitutes default. ECF No. 1, at 5; ECF No. 1-2, at 2. The EFA states that upon default, Lender may: a) terminate the EFA; b) take possession of the collateral securing the EFA; c) accelerate the EFA by declaring all sums due and to become due under the EFA immediately due and payable, with all future payments discounted at three percent; d) sell, dispose of, hold, or lease the collateral; and e) exercise any other right or remedy which may be available to the Lender under applicable law. ECF No. 1, at 5; ECF No. 1-2, at 2. Under the EFA, “any amount not paid when due is subject to a late charge of the lower of ten percent of such amount or the highest amount allowed

by law.” ECF No. 1, at 5; ECF No. 1-2 at 2. The EFA also provides that upon default, Lender is entitled to charge interest on all past due installments at the lesser of 1.5 percent per month or the “highest rate permitted by applicable law.” ECF No. 1, at 5; ECF No. 1-2, at 2. The EFA requires the borrower to reimburse the Lender for all costs incurred to “enforce [Lender’s] rights” including Lender’s attorney’s fees and costs. ECF No. 1, at 5; ECF No. 1-2, at 2. 3 On or about March 3, 2021, Defendant Red Man Trucking began making monthly payments to Lender. ECF No. 1, at 4; ECF No. 1-3, at 2. According to the Complaint and the Declaration of Anthony Campisciano, Vice President of Regions Bank, at some point in or around November 1, 2023, Defendant Red Man Trucking failed to make the full monthly payment due under the EFA. ECF No. 1, at 4; ECF No. 26-2, at 3. On July 6, 2024, Lender sent Defendant Red Man Trucking a “Notice of Default and Acceleration,” which notified Defendants of Defendant Red Man Trucking’s failure to pay the amounts due to Lender, Defendant Hill’s failure to pay the amounts due, and that both Defendants were in default. ECF No. 26-2, at 4; ECF No. 1-4, at 2–4. The Notice of Default and Acceleration also informed Defendants that the Lender was

accelerating the entire balance of the EFA, and all outstanding amounts were immediately due. ECF No. 26-2, at 4. Defendants failed to make full payment due to the Lender under the EFA. ECF No. 21-1, at 2. II. Procedural Background Plaintiff Lender filed its lawsuit on August 30, 2024, raising a breach of contract claim against Red Man Trucking, a breach of guaranty claim against Rodney Hill, and a detinue claim as to both parties. ECF No. 1, at 7–9. On December 3, 2024, the Court ordered Plaintiff to show good cause for its failure to serve Defendants within ninety days of filing the Complaint. ECF No. 6. On December 5, 2024, Plaintiff responded to the Court’s Order, stating that it had attempted

service but was unsuccessful and it requested the ability to serve Defendants by: 1) posting service of process materials to the door of 3204 Dillon Drive, Davidsonville, Maryland 21035, and 2) by sending service of process materials via U.S. certified mail to each of Defendants’ last known addresses. ECF No. 7. On December 18, 2024, the Court extended the deadline to serve the Defendants an additional sixty days but denied the request for alternative service because the 4 current resident of 3204 Dillon Drive, Davidsonville, Maryland 21035 told a process server that Defendant Hill did not reside at the address. ECF No. 8. On January 29, 2025, Plaintiff served Defendant Red Man Trucking with a copy of the Summons and Complaint through service upon the Maryland Department of Assessment and Taxation. ECF No. 9; ECF No. 9-1; see also Fed. R. Civ. P. 4

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Regions Bank, dba Ascentium Capital as successor by merger to Ascentium Capital, LLC v. Red Man Trucking, Inc., et al., Counsel Stack Legal Research, https://law.counselstack.com/opinion/regions-bank-dba-ascentium-capital-as-successor-by-merger-to-ascentium-mdd-2025.