Creditors accuse SC amusement park owners of fraud
Sun, 19 Sep 2010 00:32:15 GMT —
MYRTLE BEACH, S.C. (AP) -- Businesses owed money by the owners of a failed Myrtle Beach amusement park have accused a mortgage holder of fraud in court filings.
The Sun News of Myrtle Beach reported Saturday that four companies challenging a foreclosure lawsuit filed responses in court saying the mortgage holder and the owner of Freestyle Music Park are actually the same entity.
Mortgage holder FPI US has sued FPI MB Entertainment to foreclose on the property. If successful, the mortgage company would move to the front of the creditor line and get paid first if the park is liquidated or sold.
Attorney Nate Fata has represented each FPI company in different cases. Fata denied that the two companies are the same.
The $400 million park opened in 2008 and has been closed since fall 2009.
Information from: The Sun News, http://www.thesunnews.com/
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