Party Fowl owners sued by bank for not paying back loans

NASHVILLE, Tenn. (WKRN) — The owners of Party Fowl are being sued by the bank that financed their loans over repayment.

Regions Bank said in a Davidson County Chancery Court filing that Nicholas Jacobson and Austin Smith, owners of Party Fowl Donelson LLC and Party Fowl Murfreesboro LLC, took out loans for the restaurants and never repaid them.

According to the bank’s complaint, the loans for both locations total more than $2.5 million, including principal, interest and late charges.

The Donelson location had two promissory notes, according to the filing. The first note has an outstanding balance of $1,696,728.74, while the second outstanding balance is $170,875.84.

The notes also carry a $348.71 per day and $35.69 per day interest charge, respectively, according to the bank.

The Murfreesboro location, meanwhile, has an outstanding balance of $654,602.67, and is accruing interest to the tune of $136.72 per day. That balance excludes attorney fees and other expenses, per the filing.

According to Regions, the bank sent Smith and Jacobson letters demanding payment in early December 2023, but they did not receive any payments for any loan.

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In January, Party Fowl filed for Chapter 11 bankruptcy protections, the bank said, but did not dispute the loan liability. Still, the lender saw no effort of repayment on the loans.

Regions asked the court to rule Jacobson and Smith, as well as their business entities, liable for repayment for their loans and force them to repay.

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