Fifth Third Bank Wins Suit Against Haisfields

Fifth Third Bank Wins Suit Against Haisfields
Photo: EQUI-PHOTO
Strong Contender at Gulfstream Park.

 

Fifth Third Bank has won a $15.4 million judgment against Audrey Haisfield and her son, Marc Haisfield, for defaulting on loans received from the bank on behalf of their Stonewall Farm operation.

The judgment by Fayette (Lexington) Circuit Judge Pamela R. Goodwine was in the amount of $14.7 million against Audrey Haisfield and $789,127 against Marc Haisfield. The ruling said each judgment represents the amounts claimed by the bank in its lawsuit against the Haisfields, less a $300,000 credit for each from the sale of Strong Contender.

The Fifth Third suit is the second major judgment against the Haisfields and their related entities over the operation of Stonewall, the Midway, Ky., farm founded by Audrey Haisfield and her husband Richard. The Haisfields and related entities had previously been ordered to pay a $16 million judgment awarded in Pennsylvania to Stone Wall Acquisition, a successor to a bank that initially loaned the money.

Fifth Third has also sued various entities related to the Haisfields over the loans, with more than 100 horses used as collateral for the loans in the process of being sold through a receiver.

Stonewall and its entities have filed for bankruptcy protection in Kentucky and Florida. An attorney representing the Haisfields previously said the Stonewall property in Kentucky is being shut down and will be sold. The Haisfields have relocated their operation to a farm they own in Ocala, Fla.

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