Precept Legal Proceedings
by February 11, 2008 12:00 am 78 views
Precept Builders Inc. of Dallas is keeping up the legal pressure on developer Brandon Barber, who faces mounting problems at his Bellafont and Legacy Building projects. On Jan. 14, Precept, the general contractor on both Bellafont and Legacy, filed two suits against Barber. One is an attempt to foreclose on the Bellafont property because of an unpaid balance due of $924,082.
The other Jan. 14 suit by Precept is an attempt to collect a debt of $509,633 at the Legacy in downtown Fayetteville. On Jan. 2, Legacy National Bank of Springdale filed a foreclosure action against the Legacy for $18.1 million.
On Jan. 22, Precept filed a third suit against Barber, claiming it is still owed $322,000 for its work on the Mason’s building at Bellafont.