Texans Commercial Capital Investor Files Suit

DALLAS — Richard M. Boyd, the real estate investor who bought the majority share of Texans Commercial Capital in 2007, has filed a suit against Texans Credit Union to recoup between $5 million-$10 million for allegedly breaching a contract involving branch leases.

According to Michael Lynn, an attorney with Lynn Tillotson Pinker & Cox LLP and the petition filed on Oct. 8, Boyd had taken out a loan and borrowed money from $1.8 billion Texans CU to purchase property and build two branches for the CU. Lynn said Texans CU agreed to lease the properties for the financial institution’s use. The allegation, according to Lynn, is that the CU “failed to live up to their side of the bargain.” As a result, Boyd incurred the cost of the debt. Lynn said Boyd is seeking between $5 million-$10 million dollars. The CU has not responded to a request for comment.