The complaint was filed by Sen. Mae Beavers and her husband Jerry Beavers on Dec. 29, 2011 and names Macon County Chronicle Publisher Kathryne Belle as the defendant.
The complaint alleges that Belle borrowed $50,000 from Beavers at a rate of six percent interest on or about May 26, 2010.
Further alleged in the complaint is that Belle used the funds to purchase an interest in the Macon County Chronicle.
Belle has allegedly made numerous payments on the loan but not all required payments and has failed to make payments that were requested of principle and/or interest, according to the complaint.
The complaint further alleges that Belle has refused to sign a written promissory note or to pledge adequate collateral for the loan.
Allegedly, Belle owes the Beavers a principle balance of $50,000 plus interest at the rate of six percent and failed to make the interest payment that was due on Nov. 15.
According to the complaint, Beavers and her husband seek compensatory damages in the amount of $50,000 plus pre- and post-judgment interest.
When contacted by phone, Sen. Beavers declined to comment.
Lebanon attorney Keith Williams confirms that he has been retained to represent Belle.
"We will be filing an answer as soon as possible. Once we have filed an answer, we will state all of our defenses to this lawsuit filed by Sen. Beavers," said Williams.