Combs and Johnson Have Centerton Dispute
by January 17, 2005 12:00 am 91 views
Speaking of Gary Combs and Neil Johnson, a lawsuit has ensued between the two. Combs filed a claim in November alleging “breach of fiduciary duty” and “breach of partnership agreement.” Johnson filed a response in December denying all claims.
The dispute stems from a piece of property located across the road from the Sienna subdivision in Centerton, which Combs and Johnson, as Home Town Developers LLC, developed together and then sold the lots to John David Lindsey. Land that meets the description in the dispute was bought by Johnson in April for $2.8 million from Lilli Belle Lown and Melvin Earl and Judy D. Coffelt. Chambers Bank of Danville financed the purchase. Combs alleges that he informed Johnson that the landowner was ready to sell and asked him to go and negotiate for them.
In turn, Combs alleges that Johnson told him the landowner was asking too much for the property. Combs claims that he found that Johnson had “gone behind his back” to buy the property with his entity, Tuscany LLC.
Comb’s lawsuit requests that the land in contest be sold at auction and the proceeds be divided between him and Johnson, in addition to compensatory damages. John Everett and Jason Wales of the Everett Law Firm are representing Combs, and Jerry Lovelace of the Roy, Lambert & Lovelace firm is representing Johnson.