Racetracks Owner Sued For $46M Over Lease For Generators

Law360 (August 22, 2019, 8:55 PM EDT) -- SunTrust Equipment Finance & Leasing Corp. filed suit Thursday against NASCAR and IndyCar racetrack owner International Speedway Corp. for refusing to pay “even a single dime” of the $46 million it claims it owes under a subleasing agreement for mobile solar generators.

In its complaint, filed in federal court in Orlando, SunTrust said ISC did not respond when it tried multiple times to collect accelerated payment for the full amount of the deal after DC Solar Distribution Inc., the now-bankrupt manufacturer and distributor of the generators, defaulted on a “sale/leaseback/sublease” agreement between the three companies.

SunTrust also said it has learned...

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