Ergur to pay $863,808 to Spitzer Building Co.
3/5/2013Koray Ergur and three companies he owns have been ordered to pay $863,808 to the Spitzer Building Co. to satisfy the foreclosure action taken nearly two years ago on two buildings.
In a ruling issued Thursday in Lucas County Common Pleas Court, Judge Gary Cook said Mr. Ergur and three corporations he controls defaulted on $766,786 on a promissory note to buy the Nicholas Building and the nearby Spitzer Building.
The money is owed to the Spitzer Building Co., which is the first lien holder on the properties. Judge Cook also ordered Mr. Ergur, the owner of Ergur Private Equity Group LLC, to pay $97,022 in maintenance costs and other expenditures incurred during the two-year legal battle, including $22,742 in attorney fees.