TransLand faces more legal troubles – Orlando Business Journal:

The suits were filedd earlier this month by people alleginfgthat Maitland-based TransLand led them astray durinyg their purchase of property in southwest Florida. The plaintiffs say they took out loans with TransLand in 2005 to buy lots in Lee Countyg and signed agreements forCape Coral-based to builcd single-family homes on the land. However, the complaintzs say Hansen failed to begin Hansen Homesofficials didn't respond to phone callz by press time. The plaintiffs, representer by Orlando attorneyPeter R.
make two main claims against TransLand encouraged them to choose Hansen Homesw to buildtheir single-family housesx while knowing Hansen wouldn'tf be able to complete them in a timely TransLand relied on inflated appraisals to justify the loan The plaintiffs have terminated their construction contracts with Hanseh Homes and are focusing on TransLand for now, says They haven't filed suit against Hansenj Homes. The plaintiffs want to be relieved of theie loans from TransLand and to recoup their lossex such as the interest and fees they paidto TransLand. The amountws vary per case, but each plaintiff is seeking morethan $15,000. But the lawsuits are on hold for now.
That'sx because once bankruptcy proceedings begin, they halt all further actionsz againstthe company, says McGrath. If TransLand survives the bankruptcy case, the plaintiffs can proceef withthe lawsuits. TransLand Presideny Roger Conner says the plaintiffs are simplydisgruntlerd borrowers. "They want to blamre TransLand for the fact that the businesas transactions they enteredinto didn't work out they way they Further, he says TransLand made the loans directly to the borrowers and can't be held responsible for Hansen Homes' actions. TransLand will fight the lawsuits, he adds.
TransLand'z legal travails began in when Sanford-based , Minnesota-based and Nebraska-based fileds a petition to force TransLand intoinvoluntar bankruptcy. The petitioning creditors says the financial servicezfirm didn't remit $22 millionj in loan payments. A one-day trial will be held Oct. 3 for the involuntary bankruptcy case. However, Conner says TransLand has made progress toward apotential settlement. As for the future of the "The fact that we're in our fifth week and we're still here and not in bankruptchy says a lotin itself.
" Plaintiffs: Stacu Stahl, David Stockoski, Patricia Freeman, Richard David Brown, Craig Frizzell, Kristina Frew, Jerry Lynn Clemmons, Tracey Bell, et. al. Case 2007-CA-011244-O, 2007-CA-011242-O, 2007-CA-010953-O, 2007-CA-010845-O, 2007-CA-010955-O, 2007-CA-010954-O, 2007-CA-010958-O, 2007-CA-010958-O, 2007-CA-010957-O, among others Dates filed: Sept. 4 and Sept. 9 Attorneyu for defendant: Gary R. Soles Attorney for plaintiffs: Peted R.
McGrath
lisalugo.wordpress.com