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Author Archives: Heather Cole

Ex-banker owes more, lenders claim

Bellington Realty’s Michael Litz, former banker Shaun Hayes and their partners took out a $3.5 million loan for a housing development in Florida as the residential market there peaked. Now the borrowers, who appear to include the developer of a high-end Chicago hotel, are on the wrong end of a lawsuit filed by Montgomery Bank over the loan. The bank’s lawsuit, over $2.7 million allegedly still due, is the largest of three claims filed in the past two weeks in St. Louis County Circuit Court that add nearly $5 million to the tally lenders say is owed by Hayes and other partners in real estate ventures.

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Alito offers insider’s view

U.S. Supreme Court Justice Samuel Alito said in a speech Monday he’s “somewhat displeased” about a flurry of articles this year about fellow Justice Clarence Thomas’ years-long silence on the bench. None of the articles mentioned that Thomas’ practice of not asking questions during oral arguments is “exactly the same as the practice of the person almost universally regarded as the greatest Supreme Court justice ever — John Marshall,” Alito said.

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Justice in the house

U.S. Supreme Court Justice Samuel Alito says hello to Missouri Supreme Court Judge Richard B. Teitelman. Alito was the featured speaker at the Bar Association of Metropolitan St. Louis Law Day event Monday at a downtown hotel. Alito says he’s “somewhat displeased” about the flurry of articles this year about fellow Justice Clarence Thomas’ years-long silence on the bench. None of the articles mentioned that Thomas’ practice of not asking questions during oral arguments is “exactly the same as the practice of the person almost universally regarded as the greatest Supreme Court justice ever — John Marshall,” the justice says. Photo by Karen Elshout

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Judge won’t allow parents as parties in Busch lawsuit

A Cape Girardeau judge ruled Tuesday that the parents of a woman found dead in August Busch IV’s home last year can’t join the lawsuit as parties. Cape Girardeau County Circuit Judge William Syler denied George “Larry” Eby and Christine Trampler’s motions to join the wrongful death lawsuit filed over the death of their daughter, Adrienne Martin, Busch’s girlfriend.

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Judges tackle question of vouchers’ worth

St. Louis appeals court judges this week drilled down on the questions of how coupons or vouchers in a class action case should be valued and who should do it. The questions arose in an appeal of the settlement of a class action lawsuit against St. Louis-based brokerage A.G. Edwards — now part of Wells Fargo — over alleged kickbacks from mutual fund groups.

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Bank agrees to pay $5.5M to bankrupt stonecutter

First Community Bank leader Jack Fields described Tim Crede as creative, artistic and competent. He liked Crede and his stonecutting business, which Crede started in the 1970s with a wheelbarrow and a shovel. In 2007, First Community took on Crede’s company, Oak Grove-based Missouri Ledge, as a customer.

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A.G. Edwards to defend $60M settlement

Attorneys for A.G. Edwards will defend a settlement worth tens of millions of dollars Wednesday in appeals court. The Missouri Court of Appeals Eastern District will hear arguments at 9:30 a.m. in the appeal of the settlement of a class action lawsuit over alleged kickbacks from mutual fund groups.

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Objections to A.G. Edwards settlement set

Attorneys for A.G. Edwards will defend a settlement worth tens of millions of dollars Wednesday in appeals court. The Missouri Court of Appeals Eastern District will hear arguments at 9:30 a.m. in the appeal of the settlement of a class action lawsuit over alleged kickbacks from mutual fund groups.

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Volunteer lawyers to hunt for innocence

Volunteer lawyers trained to ferret out innocence get their first assignment early next month. On the first “Freedom Friday,” set for May 6, the lawyers will help go through about 200 questionnaires from the Midwestern Innocence Project filled out by inmates. They’ll aid in figuring out if more information or more investigation is needed into a particular case.

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NEWSMAKERS

Gov. Jay Nixon recently announced his nominations and appointments to boards and commissions. The nominees will be subject to confirmation by the Missouri Senate. Anthony Bologna, of Liberty, was nominated for the Clay County Board of Election Commissioners. Bologna is ...

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