Article: Borden & Co. wins legal battle against Craig Hall affiliate over real estate partnerships. (Das A. Borden & Co., Hall Borden Partners Inc.)

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 ...

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