A building eyed by the Greencastle-Antrim, PA School District for its administrative offices is snarled in federal lawsuits related to the $3 million sale of Foremost Industries Inc. in 2015.
The school district recently withdrew its $570,000 offer to buy the office building at 2375 Buchanan Trail West near Greencastle, Pa.
Court records said the new owners of Foremost Industries claim the former owner, Ralph C. Michael of Greencastle, PA misled and defrauded them.
However, Michael said the new owners, GLD Foremost Holdings LLC and Daniel Gordon, started dismantling the company before the sales purchase agreement was executed, and that he only received $1 million of the $3 million purchase price.
The two sides also dispute Michael selling real estate to his daughter and son-in-law before the company’s ownership was transferred.
Because of ongoing litigation in the U.S. District Court for the Middle District of Pennsylvania, a county judge on April 1 upheld a “lis pendens” on the real estate. That notice is comparable to a lien in that it notifies third parties that their interest in a property is subject to court action.
“The lis pendens prevents petitioner from entering into a purchase agreement with any prospective buyer, as it places a cloud on (the Greencastle property’s) title,” attorneys for GLD Foremost Holdings LLC wrote in a petition for the notice to be lifted.
Court of Common Pleas Judge Shawn D. Meyers wrote in his opinion that “the title to the real estate in question is sufficiently involved” in the disagreement. As of June 26th, there was no word as to what has been resolved.
“There is an ongoing dispute in the federal courts as to who owns Foremost and the real property titled in the name of Foremost,” Meyers wrote.
The Foremost modular home factory and state of the art panel plant are located on a property at 6100 Buchanan Trail West near Mercersburg, Pa.