READ: EF Hutton halts operations temporarily, firm says
“This defendant requests the court to find said taxes, assessments, interest, penalties, and charges due and owing to Clark County, Ohio is the first and best lien against the property described in the complaint and further prays that if said premises are sold at judicial sale, that said defendant’s interest be fully protected and paid at the time of the sheriff’s sale and confirmation; and the defendant be further awarded such relief as he may be entitled to at law or in equity,” a court document says.
A request for comment to Dimas Law, the law firm representing EF Hutton, was not before publication. The company announced it was temporarily halting operations at the finical firm and has not released a new press release since April.
On top of the $58,000 owed in back taxes on EF Hutton Tower, the company also owes $3,600 on the State Theater, according to the treasurer’s office.
The court document filed in Clark County Common Pleas Court is a part of a foreclosure case filed by Peer Street Funding, Inc.
EXTRA: EF Hutton hasn't submitted information necessary to get incentive
The mortgage company filed a complaint on a commercial note to foreclose on EF Hutton Tower in Clark County Common Pleas Court on April 28. The lawsuit also asks the court to order the building be sold so the debt can be paid.
The lawsuit alleges Hutn, Inc., who has owned the building since September 2016, owes PS Funding more than $4.5 million on a mortgage the company took out in 2018.
The building is 10 plus stories in the heart of downtown Springfield and is commonly known as the former Credit Life Building.
EF Hutton said in a statement released before the lawsuit was filed that it was trying to work with Peer Street Funding to settle the debt.
As part of the lawsuit, the Clark County Treasurer’s Office was listed as a defendant in the case because of the back taxes owed on the property, the suit says. The answer to the suit was filed by Clark County Assistant Prosecuting Attorney William Hoffman.
The lawsuit asks the court for a judgment against Hutn, Inc. and for the court to order that EF Hutton Tower be sold.
“Order the subject real estate to be sold free and clear of all liens, claims and interest by the sheriff of this county; the plaintiff be paid out of the proceeds of such sale the amounts due and incurred that all liens be marshaled,” the lawsuit says.
The lawsuit also asks the court to appoint someone to collect rents and profits from the company and put it towards the obligation owed to PS Funding.
$4.65 million: Delinquent amount owed on a mortgage for EF Hutton Tower
$7.5 million: Money owed to SpringForward by Hutn, Inc.
$67,000: Taxes owed on EF Hutton Tower and the State Theater by Hutn, Inc.
Springfield News-Sun:
The Springfield News-Sun has closely tracked the development of HUTN INC. and its subsidiaries since the company first announced its move to downtown Springfield in 2016, including stories examining its possible impact on downtown and the ramifications of it ceasing operations.
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