Monday, Jul 25, 2016
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Economy

Golf course owner must repay $1.1M bank loan

A Curtice, Ohio, golf course owner is facing foreclosure proceedings and has been ordered to repay a loan to Genoa Banking Co. for nearly $1.1 million.

The bank won the judgment because Sam Ciralsky, the president of Chippewa Club Inc., had agreed to such a finding when he signed the note. The club owes $1.1 million plus interest, Lucas County Common Pleas Court filings show.

In a filing in Ottawa County Common Pleas Court, William Brown, Jr., of State Rt. 579 in Curtice filed a complaint of foreclosure because Mr. Ciralsky has not honored a buyout the two men agreed upon when Mr. Brown wanted to get out of his co-ownership of the club, said Joseph Torda, Mr. Brown's attorney. Mr. Ciralsky said the club is open for business.

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