Allied Foreclosure on Cauley
by December 27, 2010 12:00 am 71 views
Allied Bank of Mulberry is attempting to recover about 100 acres tied to a $1.4 million loan guaranteed by Gene Cauley.
The loan, reworked several times, dates back to July 27, 2007. The funds were borrowed by Cauley’s SEC WLR Holdings II LLC.
The property is about a mile north of Lake Maumelle, across from Jolly Roger Marina as the crow flies.
Allied Bank appears to be first in line from a priority standpoint although the land is linked with an April 28 judgment by Little Rock’s Metropolitan National Bank.