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Fifth Third wins $15.5-million judgment against Stonewall

Posted: Tuesday, August 31, 2010 7:08 PM

by Jeff Lowe

A Circuit Court judge in Lexington has ordered Stonewall Farm owner Audrey Haisfield and her son, Marc, to pay Fifth Third Bancorp a total of $15.5-million related to loans for their farm in Versailles, Kentucky.

The bank is in the process of selling more than 100 Stonewall broodmares and their foals who were collateral for the loans.

Stonewall also faces a Lexington lawsuit filed by JPMorgan Chase & Co., which claims it is owed more than $7-million. Earlier this year, another lender, Stonewall Acquisition, won a $16-million judgment against Audrey Haisfield and her husband, Richard, in a Pennsylvania court.

Stonewall announced in July that it would move Strong Contender and four other stallions to its Ocala farm after filing for bankruptcy protection for five Thoroughbred-related entities, including those that own champion Leroidesanimaux (Brz) and Grade 2 winner A. P. Warrior.

John Hamilton, an attorney representing Stonewall in the bankruptcy case, said that the Haisfields would use the stud fees Leroidesanimaux and A. P. Warrior generate at the Ocala farm to compensate creditors.

Jeff Lowe is a Thoroughbred Times staff writer

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READER COMMENTS

Posted by: Steven, lexington, SC on September 01, 2010 at 08:39 AM

What I would like to know, is how do they get that kind of money in the first place? Same with Zayette (spel) You would think that you ply this game with the funds you have available???

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Posted by: Lynn, Ocala, FL on September 01, 2010 at 08:25 AM

So happy...these people are crooks and I'm glad to see the courts were in the bank's favor. My husband did work for them a year ago in Ocala and we still haven't been compensated after months of collection letters. They have no business to be in our industry.

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Posted by: l. mills`, lex, KY on August 31, 2010 at 11:18 PM

good for the bank

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