Follow Us on Twitter Join Us on Facebook
State seeks receiver for Lafayette Golf
6 years ago | 80 views | 0 0 comments | 0 0 recommendations | email to a friend | print
Saying Lafayette Golf Course is "in serious decline," the State Attorney General is asking Grayson Circuit Court to appoint a receiver to manage the course.

In the same motion, Attorney General Greg Stumbo also said the receiver should "oversee an accounting of funds in connection with the resort property known as Green Farm Resort."

The newest motion is part of a lawsuit filed by the state in February against four Texas individuals and six corporations for violations of Kentucky's Consumer Protection Act in sales of the resort property on Rough River at the Old Falls of Rough.

The new motion alleges that defendants "sold residential building lots (at the resort) through the use of false, misleading or deceptive practices."

The motion also said the defendants "failed to complete infrastructure work, such as roads and utilities, even though the Property Report filed in June 2002 states that sufficient funds were escrowed for completion of the work."

This newest motion also said Lafayette Golf Course, is in serious decline "requiring immediate attention and that the value of the resort lots are directly affected by the relative condition and reputation of the course." Lafayette is a premier nationally-recognized course.

"The defendants collected millions of dollars from these land sales," Stumbo said. "Yet consumers have been left with property which is not good for building and in many cases inaccessible due to the failure of the defendants to keep their promises."

He said the attorney general's office will continue to seek "all appropriate remedies for victims."

Named as defendants in the original suit are Samuel D. Ware, Patrick Ramsier, Charles E. Schram III, Thomas Hillsman, GF Resort Limited Partnership, GF Resort GP, Inc., American Resort Corporation, Kentucky Investors L.P., Lazarus Property Corporation and Green Farm Property Owners Association.
Comments
(0)
Comments-icon Post a Comment
No Comments Yet
report abuse...

Express yourself:
The comments posted are not the views of the News-Gazette and are only the opinions of the user. We're glad to give you a forum to air your point of view on issues important to this community. We just ask that you keep things civil. Leave out the personal attacks. Do not use offensive language, ethnic or racial slurs, or assail anyone's personal or religious beliefs. For anyone who can't be civil, we reserve the right to remove your material. We also reserve the right to ban users who violate our visitor's agreement.

Weather
Sponsored By:

Lottery
Sponsored By:

Stocks
Sponsored By:

featured businesses
Gasoline Prices
Sponsored By:

Recipes
Sponsored By: