Summary
BLOOMINGTON - The troubled Bank of Illinois fired back Thursday against three real estate investors tied to Twin City developer Larry Hundman, denying that key loan documents were forged and claiming investors still owe the bank millions of dollars.
The countersuit, filed in McLean County Circuit Court, came six days after the investors - local businessmen David K. Stark, Marti Rave and Richard Owen - told the court they cannot be forced to pay a $3 million loan Hundman's CIP LLC defaulted on last month. They are listed as loan guarantors - essentially agreeing to cover a debt if the loan goes bad - but claim their signatures were forged, or in Rave's case, the paperwork was incomplete.See the full content of this document
Extract
Bank Denies Alleged Forgeries
The bank disagrees, and claims the three were trying to "shirk their promise to repay $3 million that they benefited from" as investors in Hun...
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