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by Mike Caswell

North Vancouver promoter Dan Rutledge is being sued in the Supreme Court of British Columbia by a leasing company which claims that he owes about $1-million and that the amount is secured by a boat, motorcycles and a car. The company says that Mr. Rutledge borrowed the money in 2021 and has since defaulted on the loan. Despite demands, he has failed to hand over the vehicles and has caused them to "significantly depreciate in value," the lawsuit claims.

The allegations are contained in a notice of claim filed on Thursday, Dec. 11, at the Vancouver courthouse. The plaintiff is Summit Leasing Corp., a lender with its main office in Vancouver. In addition to Mr. Rutledge, the suit names as defendants his wife, Leslie, and a private entity that she controls, Falco Investments Inc.

The case arises from a loan that Mr. Rutledge took out on Sept. 29, 2021, for $250,000 (U.S.). The loan, which had an interest rate of 30 per cent, was secured by assets that included a 2014 Ford Mustang Shelby GT500 convertible. Also on the list are two motorcycles: a 2016 Yamaha FJR 1300 and a 2007 Honda VTX1800F. The final item is a boat, identified as a 2013 Larson 328LXI.

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