patching...
Welcome back, Patch Blogger!

Loan Default

Tuesday, May 14, 2013

Former Rep. Sean Jerguson, Business Partners Hit with Default Judgment

Atlanta Unfiltered is reporting a federal judge has entered a $640,000 default judgment against the former lawmaker and his business partners in relation to a loan they received to operate a mobile home park.

A former Cherokee County state representative who was defeated by State Senator Brandon Beach (R-Alpharetta) in January's special election is facing more legal troubles. Sean Jerguson, the former Georgia legislator from Holly Springs, last week was hit with a contempt order by a federal judge against him and his business partners in their investment of the Maplewood Mobile Home Park, according to Atlanta Unfiltered.   The judge in his order (which is attached) noted Jerguson, J. Cary and Kimberly H. Bullard of Gainesville, owners of Sapphire Pointe LLC, disregarded an order for them to present information requested by Arkansas-based Bank of the Ozarks, which is suing Jerguson and Sapphire Pointe for defaulting on a loan they received to …

In this Article:

Hi Caliber Firearms (in Holly Springs-Hickory Flat Patch), Jerguson: Loan Default Lawsuit a 'Business Dispute', Sean Jerguson To Run For State Senate, and 2 more ›

Monday, January 7, 2013

Jerguson: Loan Default Lawsuit a 'Business Dispute'

Senate District 21 candidate Sean Jerguson is a party to a case in which he and several others have allegedly defaulted on a loan totaling more than $600,000.

Georgia Senate District 21 candidate Sean Jerguson and his business partners are on the hook to repay a bank loan totaling over $600,000.  That's according to court documents filed in the U.S. District Court Northern District of Georgia. According to a lawsuit filed in September by Arkansas-based Bank of the Ozarks, J. Cary and Kimberly H. Bullard of Gainesville, owners of Sapphire Pointe LLC, Jerguson and his wife Kate have allegedly defaulted on a $611,670.95 loan and $28,956.52 in unpaid interests they received in 2004 to operate the Maplewood Mobile Home Park in Cedartown. The Arkansas-based bank took over the loan when the original bank failed.  The defendants, according to court documents, have all filed responses in the case denying…

In this Article:

Hi Caliber Firearms (in Holly Springs-Hickory Flat Patch), Cherokee Bank (in Canton-Sixes Patch), and Brandon Beach Carried Over Unused Campaign Cash

Stephanie W

8:16 am on Tuesday, January 8, 2013

Sounds like something Chip Rogers would say.   more ›

Got a Hot Tip?
 
 

Videos

 

Most Popular Articles

  1. Avalon Developers Reveal Home Designs, Construction Timeline
  2. Winning $600M Powerball Ticket Sold in Florida
  3. Demolition Starts for Alpharetta's Downtown City Center Site
  4. Know Before You Go: Restaurants Score A's
  5. UPDATE: Sparks from Grinding Metal Started Fire at King's Ridge Christian School

PSST! Want to Contribute?

  • Got a hot tip on news you think everyone should know? Tell us.
  • Just married? New baby? Make honor roll? Add an Announcement
  • Organizing that big block party or poetry reading? Put it on the calendar!
  • Have a great photo of your community?
    Add it to Your Neighborhood Gallery.