Century Bank sues for repayment of Skylight nightclub loan
Century Bank is seeking repayment of a $40,000 loan made to Skylight nightclub and event space co-owner Joe Ray Sandoval in the months before the once popular downtown Santa Fe venue scaled back and ultimately shut down in December 2017.
Century Bank filed suit Feb. 13 in First District Court asking for $34,328 in repayment of principal on a $40,000 loan made to Sandoval in December 2016. The loan matured Dec. 15 and had not been repaid, according to legal documents.
The nightclub, which opened in July 2014, shut down in April 2017, citing debt, substantially slower business and uncertainty regarding state liquor license citations. Skylight regrouped as an event space, but that also shut down in December 2017.
In its suit, Century Bank also is asking for $577 in accrued interest, $1,721 in late charges and court approval of 21 percent annual interest plus attorney fees and costs.
“I don’t comment on lawsuits filed,” said James R. Jurgens, the attorney representing Century Bank.
Sandoval did not respond to phone and email messages from The New Mexican.
The suit also puts a lien on any collateral that may still be at the property on 139 W. San Francisco St. or the proceeds of collateral already sold. The Century Bank loan included a security interest in all the Skylight equipment, according to the suit.
The case number is D-101-CV-2019-00371 and was assigned to District Court Judge Francis J. Mathew.
Shortly after opening in 2014, the Skylight became a centerpiece for then-Mayor Javier Gonzales’ efforts to enhance downtown nightlife for young people.