Foreclosure sale of Abbott Sports Complex delayed | Local

Attorneys have agreed to delay a foreclosure sale of Abbott Sports Complex originally set for later this week.

Frank Mihulka, an Omaha attorney and trust manager for the Ethel S. Abbott Charitable Foundation, told Lancaster County District Judge Susan Strong that the sale now is set for Dec. 1.

The Lincoln Sports Foundation on Friday sued the Abbott Foundation, which sought to sell the complex at 7600 N. 70th St. to recoup some of the millions of dollars it has invested in the 23-year-old facility over the years.

The Abbott Foundation, which holds a mortgage on the complex, began the foreclosure process last month, saying the Lincoln Sports Foundation hasn’t made payments on the loan.

But, in the lawsuit filed Friday, the Lincoln Sports Foundation contended that the foundation doesn’t have the legal right to foreclose on the property. The Sports Foundation alleged in the suit that it was encouraged to take on debt from the Nebraska Tennis Center with a promise that it would not have to make payments on the loan. It is seeking an injunction permanently blocking the sale.

That fight will be for another day.

Strong delayed the hearing on the injunction request until Nov. 28 to give both sides time to work out a deal.

Source link

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

The 6 Machines You Need To Start Using At The Gym

Tuesday’s Vermont sports scores and Wednesday’s schedule