Suits target Bostic principals - 2005-02-21 - The... -
[Cached Version]
Published on: 1/17/2005
Last Visited: 2/21/2005
AmSouth filed two lawsuits in the Northern District of Alabama against Bostic Construction, President Jeff Bostic, former CEO Mel Morris and their wives, on claims the individuals agreed to guarantee loans for student housing projects in Knoxville, Tenn., and Tallahassee, Fla., thus accepting financial responsibility in case of default.
...
The developer has been looking to negotiate about $90 million in debt owed by the company and 11 affiliates, according to a revised estimate by Christy Myatt, a Nexsen Pruet Adams Kleemeier attorney who represents Jeff and Joe Bostic.
...
But Jeff and Lynn Bostic own a home in Forsyth County, Ga., valued at more than $1 million, according to tax records.
...
Jeff Bostic also owns a condo in Charleston, S.C., valued at $280,000, according to that city's tax records.