Friday, January 18, 2013
Judge rules against Mike Matheny
CLAYTON, Mo. -- A St. Louis County judge has ruled against St. Louis Cardinals manager Mike Matheny in his court battle with a bank over foreclosure of property he once owned.
The St. Louis Post-Dispatch reports that Judge Tom DePriest ruled in favor of Business Bank of St. Louis and against Matheny and his wife, Kristin. It isn't clear how much the ruling will cost Matheny but the newspaper says it could be millions.
Matheny and a partner borrowed nearly $12 million from the bank for a planned development in Chesterfield. But the plan suffered when the recession hit. Matheny stopped making payment on the loan.
The bank sued in 2010 and foreclosed on the property. Matheny and the bank have been arguing in court over how much he should owe.