OSHKOSH, Wis–The company looking to foreclose on the Oshkosh Arena says the owner has no money. Bayland Buildings filed the notice of foreclosure of the mortgage this week–citing Fox Valley Pro Basketball and President Greg Pierce making no payments in three months–and already being behind on the payments.
Bayland Buildings Foreclosure by Jonathan Krause on Scribd
That follows FVPB failing to pay its $626,000 in property taxes for this year. City Manager Mark Rohloff says they have heard nothing from Pierce about making any effort to pay that……….
In its filing, Bayland argues that Fox Valley Pro Basketball is insolvent, and has no way to pay its bills, so it wants the arena placed in receivership. Rohloff supports that move, as it will at least get the tax bill paid………..
As part of the foreclosure, Bayland is also demanding that Fox Valley Pro Basketball, or Pierce, pay the remaining $12.5-million still owed on the mortgage. FVPB has not responded to the summons and no court dates have been set.
