Court: Sac, Fox Tribe can foreclose on National Cattle Congress properties
WATERLOO — A district court ruling has put the future of the National Cattle Congress in jeopardy.
Judge George Stigler said the Sac and Fox Tribe of the Mississippi in Iowa can foreclose on the NCC property to recover $13.9 million owed on loans the tribe made 20 years ago to help the NCC emerge from bankruptcy reorganization.
The NCC has asked the court to reconsider the ruling, which could send the historic fairgrounds, Electric Park Ballroom and former Waterloo Greyhound Park to a sheriff’s sale.
Ken Nelson, the NCC’s legal counsel, could not be reached for comment Thursday. But NCC board chairman Wally Mochal confirmed the organization has asked Stigler to reconsider his ruling and is prepared to take the matter to the Iowa Court of Appeals if necessary.
Read more: http://wcfcourier.com/news/local/crime-and-courts/court-sac-fox-tribe-can-foreclose-on-national-cattle-congress/article_3921b861-448d-59c2-8b91-4e594959e3b9.html