In case anyone was curious as to what ever happened to Henry W. Maclin III it appears he is essentially bankrupt.
Here he was trying to hold on to his interest in a family home in Maine, but lost:
http://files.mainelaw.maine.edu/library/SuperiorCourt/decisions/YORre-10-234.pdf
The plaintiff, SE Property Holdings LLC, (SEPH) is a successor entity to Vision Bank. A heavy lender to the Gulf Coast development sector back in the
"go go" days, Vision ended up saddled with lots of what bankers call "non performing loans" (NPL's). The holding company which owned Vision sold the "good"
parts of the bank to another bank, but kept the NPL's (I would assume the buying bank was not going to pay anything for NPL's). the holding company then
set up SEPH in order to attempt to collect on all these bad loans. You don't want to owe money to SEPH: they are the "pit bulls" (my apology to lovers of the breed)
of creditors, and they never give up. It is SEPH that is suing Peter Bos of Destin, again over an old Vision Bank loan. While nothing is predictable with any assurance when it
comes to jury trials, if I was going to bet I would probably bet on SEPH.
SEPH is also, and has also, pursued others including the people who guaranteed loans for a failed project over in Gulf Shores called "Bama Bayou" as well as much smaller
entities/ individuals.:
SE PROPERTY HOLDINGS, LLC | Civil Action No. 15... | 20170103736| Leagle.com
There are lessons here for both lenders and borrowers as the excesses of a decade ago continue to play out.
Here he was trying to hold on to his interest in a family home in Maine, but lost:
http://files.mainelaw.maine.edu/library/SuperiorCourt/decisions/YORre-10-234.pdf
The plaintiff, SE Property Holdings LLC, (SEPH) is a successor entity to Vision Bank. A heavy lender to the Gulf Coast development sector back in the
"go go" days, Vision ended up saddled with lots of what bankers call "non performing loans" (NPL's). The holding company which owned Vision sold the "good"
parts of the bank to another bank, but kept the NPL's (I would assume the buying bank was not going to pay anything for NPL's). the holding company then
set up SEPH in order to attempt to collect on all these bad loans. You don't want to owe money to SEPH: they are the "pit bulls" (my apology to lovers of the breed)
of creditors, and they never give up. It is SEPH that is suing Peter Bos of Destin, again over an old Vision Bank loan. While nothing is predictable with any assurance when it
comes to jury trials, if I was going to bet I would probably bet on SEPH.
SEPH is also, and has also, pursued others including the people who guaranteed loans for a failed project over in Gulf Shores called "Bama Bayou" as well as much smaller
entities/ individuals.:
SE PROPERTY HOLDINGS, LLC | Civil Action No. 15... | 20170103736| Leagle.com
There are lessons here for both lenders and borrowers as the excesses of a decade ago continue to play out.