An Ohio firm that held a judgment against the owners of Stonewall Farm has taken possession of the 260-acre property near Versailles, Ky. and placed it on the market for $10.75 million.
According to Joseph M. Engelhart, CEO of Cincinnati Capital Corporation, Richard and Audrey Haisfield have signed over the title to the farm to the company and its assignee, Stonewall Acquisition (SWA). CCC’s former parent, Harleysville National Bank, had been awarded a $16 million judgment after the Haisfield’s defaulted on a loan.
Engelhart said CCC has already had serious inquiries from potential buyers who heard that the company was taking over the farm.
"We expect the farm will sell for less than the cost just to duplicate the distinctive barns and structures," a release from CCC said. "This farm is a showstopper. The horse facilities are some of the most unique and discriminating in the world. The 5,600-square-foot main residence is completely update and elegant in all respects."
Stonewall, which at one time stood top sire Medaglia d'Oro before he was sold to Sheikh Mohammed’s Darley operation, is adjacent to Lane’s End Farm.
The Haisfields, who along with various operation entities have had several lawsuits filed against them that have resulted in sizeable judgments, relocated their operation to Ocala, Fla., earlier this year.
Although CCC held a judgment against the Haisfields and their various operating entities, the financial company’s ability to foreclose on the property was held up as a result of the Haisfield’s bankruptcy filings in Kentucky and Florida.
Previous to signing over the title to CCC, the Haisfields had sought court approval to place the farm on the market themselves for an asking price of $8.4 million.