Fabling Built’s office at 3823 Gaskins Road has been emptied out. (Michael Schwartz photo)
The region’s largest local bank is joining over a dozen former clients and contractors in seeking to claw back money from defunct home renovator Fabling Built.
Atlantic Union Bank this month filed for a judgment against Fabling Built for $521,000, seeking to collect on the balance of two loans made to the company in recent years.
The loans were guaranteed by Fabling Built’s owners, married couple Casey and Adrienne Fabling. They started the company in 2016, offering home renovation and remodeling services until its abrupt closure in March.
In the months since, many of Fabling’s clients and subcontractors have flocked to local courthouses in attempts to reclaim money from the now-defunct firm. Atlantic Union filed the judgment in Richmond Circuit Court on May 17.
According to court documents, Atlantic Union Bank had issued a pair of loans to Fabling Built in 2021 and 2022 for $50,000 and $500,000, respectively. Each loan included a confession of judgment provision in the event of a default, which leaves the borrowers on the hook with little room for defense.
Atlantic Union Bank states in its filing that the Fablings owe it a total of $521,660 with 18 percent interest beginning May 10. No hearings or responses had been filed as of press time.
Atlantic Union Bank spokespeople declined to comment on the matter. The Fablings weren’t available for comment.
Fabling Built owners Casey (left) and Adrienne Fabling.
Atlantic Union Bank becomes the largest of Fabling’s creditors to take legal action since its closure.
Among that group is Megan Pierce, a Richmond resident who filed a lawsuit in Richmond Circuit Court.
Pierce, in her May 17 lawsuit, claims that she entered a contract with Fabling in December 2022 for a basement and bathroom renovation and that she paid the firm a deposit of nearly $13,000.
“On March 15, 2023, before any on-site work was performed, Fabling notified (Pierce) that it was ceasing operations and was abandoning the project,” Pierce’s suit states. “Despite demand, Fabling has not returned the deposit.”
Pierce is seeking $12,793 plus attorney’s fees. Kevin Funk of Durrette, Arkema, Gerson & Gill is representing Pierce in the case and declined to comment.
A national construction supply company is also claiming in court that Fabling Built owes it money.
ABC Supply Co., a Wisconsin-based firm that provides roofing, siding, doors, windows and more to contractors, filed a lawsuit against Fabling Built last week in Henrico Circuit Court.
In its suit, ABC Supply claims that it previously opened a credit account with Fabling through which Fabling could order construction materials, but that Fabling has failed to pay its balance.
ABC Supply is seeking $49,000 in damages, plus interest and attorneys fees. ABC is represented by Richard Sissman of Maryland-based law firm Fracassi, Sissman & Rand and was unavailable for comment.
In total, plaintiffs are seeking to reclaim at least $849,000 from Fabling Built.
Fabling Built’s office at 3823 Gaskins Road has been emptied out. (Michael Schwartz photo)
The region’s largest local bank is joining over a dozen former clients and contractors in seeking to claw back money from defunct home renovator Fabling Built.
Atlantic Union Bank this month filed for a judgment against Fabling Built for $521,000, seeking to collect on the balance of two loans made to the company in recent years.
The loans were guaranteed by Fabling Built’s owners, married couple Casey and Adrienne Fabling. They started the company in 2016, offering home renovation and remodeling services until its abrupt closure in March.
In the months since, many of Fabling’s clients and subcontractors have flocked to local courthouses in attempts to reclaim money from the now-defunct firm. Atlantic Union filed the judgment in Richmond Circuit Court on May 17.
According to court documents, Atlantic Union Bank had issued a pair of loans to Fabling Built in 2021 and 2022 for $50,000 and $500,000, respectively. Each loan included a confession of judgment provision in the event of a default, which leaves the borrowers on the hook with little room for defense.
Atlantic Union Bank states in its filing that the Fablings owe it a total of $521,660 with 18 percent interest beginning May 10. No hearings or responses had been filed as of press time.
Atlantic Union Bank spokespeople declined to comment on the matter. The Fablings weren’t available for comment.
Fabling Built owners Casey (left) and Adrienne Fabling.
Atlantic Union Bank becomes the largest of Fabling’s creditors to take legal action since its closure.
Among that group is Megan Pierce, a Richmond resident who filed a lawsuit in Richmond Circuit Court.
Pierce, in her May 17 lawsuit, claims that she entered a contract with Fabling in December 2022 for a basement and bathroom renovation and that she paid the firm a deposit of nearly $13,000.
“On March 15, 2023, before any on-site work was performed, Fabling notified (Pierce) that it was ceasing operations and was abandoning the project,” Pierce’s suit states. “Despite demand, Fabling has not returned the deposit.”
Pierce is seeking $12,793 plus attorney’s fees. Kevin Funk of Durrette, Arkema, Gerson & Gill is representing Pierce in the case and declined to comment.
A national construction supply company is also claiming in court that Fabling Built owes it money.
ABC Supply Co., a Wisconsin-based firm that provides roofing, siding, doors, windows and more to contractors, filed a lawsuit against Fabling Built last week in Henrico Circuit Court.
In its suit, ABC Supply claims that it previously opened a credit account with Fabling through which Fabling could order construction materials, but that Fabling has failed to pay its balance.
ABC Supply is seeking $49,000 in damages, plus interest and attorneys fees. ABC is represented by Richard Sissman of Maryland-based law firm Fracassi, Sissman & Rand and was unavailable for comment.
In total, plaintiffs are seeking to reclaim at least $849,000 from Fabling Built.
It’s unusual to see an instance like this where the defaulting company hasn’t filed for Chapter 11. It would consolidate all of the already-filed lawsuits and prevent any new suits from being filed.
Bankruptcy is not the answer. The loans were said to be taken out in 2021 & 2022 seems odd that the company shuts its doors such a short time after.
Right the people first and foremost. The bank can wait
I hope the customers can get their deposits back as well. I can’t imagine being caught in the squeeze, knowing the bankers are repped by big law firms and will likely be first in line.
The Bankers are first in line because of their preference as secured lenders, not because of their law firms. And it is likely that the secured lenders will only see a fraction of the amount owed to them. Certainly after legal fees. Leaving nothing for those further back in line. This is a distressing situation for all involved. Including the Fablings, who understandably garner little public sympathy, and were the cause of it all.