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Article: Borden & Co. wins legal battle against Craig Hall affiliate over real estate partnerships. (Das A. Borden & Co., Hall Borden Partners Inc.)
- Article from:
- PR Newswire
- Article date:
- April 14, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BORDEN & CO. WINS LEGAL BATTLE AGAINST CRAIG HALL AFFILIATE
OVER REAL ESTATE PARTNERSHIPS
MUSCLE SHOALS, Ala., April 14 /PRNewswire/ -- After more than nine months of litigation in the Federal Courts, Das A. Borden & Co. was granted a judicial foreclosure against Hall Borden Partners Inc. for defaulting on its payments to Borden & Co.
In 1987 Borden sold half of its partnership interests to Hall Borden Partners Inc., an affiliate of Hall Financial Corp., for $8.9 million. Borden received $1.2 million at closing and $7.7 million in purchase money promissory notes.
Those interests purchased represented a 51 percent ...