Developer Being Sued for Nonpayment

Our friend Bearroller sent me an email that Fifth Third Bank is suing Lake Forest developer and general LaVergne influencer Amnon Shreibman for defaulting on a loan that was a whopping $13,668,000.  That’s almost $14 million. If I had that kind of money…. sigh…

Here’s a link to the write-up (so far) in the DNJ by Mealand Ragland Hudgins,

Fifth Third officials contacted Amnon Shriebman around Dec. 7 and told him a payment of $42,870.79 was due. A month later, the bank withdrew that amount, resulting in a negative account balance of $42,835.51.

“Since the creation of that overdraft, Fifth Third, on numerous occasions, has asked and advised the Trustee to cover such overdraft. (Amnon Shriebman) has refused to cover such overdraft on each such occasion and has explicitly informed Fifth Third that it has no intention at all to cover this overdraft at any time,” the document states.

Further, property taxes of about $135,991 have yet to be paid to Rutherford and Davidson counties.  My questions:

  1. What happens when YOU don’t pay your property tax?
  2. The properties owned by Mr. Schreibman are “collateral” … does this mean that Fifth Third will become one of the biggest land- and home-owners in LaVergne and Lake Forest?
  3. What happens if the city changes the street names?  We know the library building is named in memory of Mr. Schreibman’s son (which is very sweet and poignant, really), but how about renaming some of these other very public streets to something else like Kathy T. Blvd.  Hahaha…
  4. What do you think?  Think about what you say before you say it because any comments attacking someone for their race, religion, national origin, etc. will be deleted.  No name calling, please.

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