Metropolitan Targets Pinnacle Air Group, Too
by February 8, 2010 12:00 am 75 views
MNB also has filed suit against Pinnacle Air Group LLC, as well as other related entities and individuals, such as Bill and Carolyn Schwyhart, and Robert and Frieda Thornton.
The suit concerns various loans, notes and mortgages, and totals about $2.7 million, plus real and personal property. The suits also asks that a commissioner be appointed to sell the property involved.
Schwyhart, you may remember, is suing MNB in Benton County as principal of Pinnacle Point Properties LLC and is seeking $20 million in damages.
That lawsuit claims MNB breached its loan agreement concerning 10 buildings located on 22 acres in Pinnacle Point in Rogers.
Schwyhart claims the partners have been working with the bank since June to sell the Pinnacle Hills property to Sterling Partners LLC and LCG Global Assets Limited for more than $95 million.
We’ll keep you posted.