Thoroughbred breeder Audrey Haisfield, Stonewall Farm Stallions, and related entities have been sued by a bank for more than $7 million in outstanding loans, according to the Lexington Herald-Leader.
According to the suit, filed in Fayette County, Ky., Circuit Court by JPMorgan Chase, one of the loans was secured with interests in the Stonewall stallions Leroidesanimaux and A.P. Warrior. The bank is seeking to take possession of the stallions and sell them to pay off the loans, the newspaper reported.
The suit was filed against Stonewall, Haisfield, Nevertell Farm, and other entities. The bank is also seeking possession of some yearlings, mares, and shares in other stallions that were used as collateral.
John Hamilton, an attorney for Haisfield, told the newspaper his client could enter into an agreed order with the bank when a hearing is held July 20.
Haisfield, Stonewall, and Nevertell previously turned over horses to satisfy $14.85 million on defaulted loans from Fifth Third Bank, which sued to recover the outstanding debts.