Contractor sues Menominee Nation Arena owner for $13 million, asks judge to appoint receiver
OSHKOSH - The general contractor for the Menominee Nation Arena said the arena’s owner has no cash and is on the brink of insolvency.
In a lawsuit filed Friday, Bayland Buildings Inc. asked a Winnebago County Circuit Court judge to appoint a receiver to oversee the finances and operation of Fox Valley Pro Basketball Inc., which manages the arena. The arena is home to and the Wisconsin Herd, the Milwaukee Bucks' G-League basketball team.
The Hobart-based construction company claims Fox Valley Pro Basketball and its president, Greg Pierce, have defaulted on a $13.2 million mortgage it holds outstanding debt on the construction of the $21.5 million arena.
The lawsuit alleges Pierce frequently misrepresented the organization’s financial condition and had repeatedly failed to live up to agreements to pay Bayland since November 2017, the month the arena opened.
Read more: https://www.greenbaypressgazette.com/story/news/2019/08/09/oshkosh-investor-sues-menominee-nation-arena-operator-1-1-million/1969024001/