AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Developer defaulted on $7 million in loans, lawsuit claims.
Byline: Tom Daykin
Feb. 6--Icon Development Corp. and two of its affiliates have defaulted on loans totaling over $7 million, according to a foreclosure suit filed in Milwaukee County Circuit Court. The suit, filed by Chicago-based bank Harris N.A., claims Icon owes $4.1 million; GJK Development LLC owes $2.7 million; and Woodlake Village LLC owes $536,996. Those amounts are owed from loans originally made by Lincoln State Bank, which Harris acquired last year. The suit's defendants include people who Harris says provided personal guarantees for the loans, including Icon Chief Executive Officer Jeffrey Klement and his wife, Patricia; Icon Vice President John …
