Lawsuit involving Hannibal Cavemen continued to Feb. 3
Fri, 06 Jan 2012 22:37:10 GMT —
Thereâ??s another delay in a lawsuit that involves a former owner and a current owner of the Hannibal Cavemen amateur baseball team.
At a case management conference Friday, the case was continued for a hearing on February Third. A trial date could be set then.
F & M Bank and Trust of Hannibal is asking a judge to order former Cavemen owner Larry Owens and current co-owner Robert Hemond to pay back more than $700,000 in loans and interest.
Two of the teamâ??s former ownership companies, Clemens Field Development and Hannibal Sports and Entertainment Group, are named in the lawsuit.
The bank claims the defendants owe $707,328.28 of a $2.2 million loan dated August 17, 2009.
It also wants to foreclose on land at the west side of the Clemens Field complex that it says Hannibal Sports and Entertainment Group deeded to Clemens Field Development. The lawsuit claims Owens and Hemond executed a deed of trust on the land as security for the loan.
In addition, the bank is asking for interest payments of 52 dollars and 46 cents per day since August First.
The Hannibal City Council in May authorized F & M to sell off team assets. Owens then filed lawsuits of his own to dissolve the companies that controlled the team at the time and asked a judge to appoint a receiver to run the Cavemen. The request was denied.
A new ownership group called Hannibal Cavemen Baseball LLC was announced in June. It included Hemond, Hannibal nursing home executive Rick DeStefane and former Major League Baseball players Ryan Klesko and Woody Williams.
The bankâ??s lawsuit was filed in August.