Celebrity Investor Group Sued Over Property Foreclosures

Law360, New York (August 3, 2012, 4:42 PM EDT) -- The Bremen Bank and Trust Co. sued an affiliate of Third Street Investors LLC, a group that includes NFL Hall of Famer Marshall Faulk and rap star Nelly, in Missouri state court Thursday in an effort to recoup money allegedly owed on two foreclosed commercial properties.

Defaulting on its loans, the celebrity-backed investor group, which was operating under shell company North Meramec Investors LLC, allegedly let the properties go into foreclosure and to auction. Now, the bank wants to get back the difference between any auction...
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