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Federal Judgment Against Helicopter Technology; Century Continues With Foreclosure Proceedings
July 9, 2009
A federal court has awarded a Costa Rican company a $424,550.72 judgment against the former Helicopter Technology company of Century. Meanwhile, the Town of Century’s efforts to foreclose on the former Helicopter Technology building are continuing, with a final ruling expected by the end of the summer.
The United States District Court for the Northern District of Florida entered the judgment in favor of El Colona Agropecurario of Costa Rica. The company paid Helicopter Technology $407,500 down on a $560,000 remanufactured FH1100 helicopter with an agricultural spray system to spray banana plantations. (Click the image to load a pdf of the invoice obtained by NorthEscambia.com.)
According to federal court documents, Helicopter Technology was to have delivered the helicopter by April 2007. “Between April 2007 and December 2007, El Colono made numerous demands for delivery of the helicopter and spray system without success,” the lawsuit states. El Colono began asking for their $407,500 back on December 20, 2007.
The federal court ruled in favor of El Colono, awarding the $407,500 plus interest for a total of $424,550.72.
Meanwhile, the Town of Century started mortgage foreclosure proceedings against Helicopter Technology, Inc. in Escambia County Circuit Court on August 26, 2008, after the company defaulted on payment arrangements with the town. Company owner Georges Van Nevel apparently left the country about that time.
At the time the mortgage foreclosure proceedings were filed, the town was aware of two other liens against the property. One from Williams, Cox, Weidner & Cox. P.A. from 2005 was for $8,000. Another judgment from 2008 by Anthony Urella and Demetri Urella had a $27,000 balance. After the lawsuit was filed, the town learned that there was an additional lien for $90,000 for a judgment in favor of Landmark National II Corp.
The town’s foreclosure motions in Escambia County Circuit Court sought to have the other liens dismissed. Only one party, the accounting firm, filed an answer supporting their claim. A motion of default was entered against the other defendants, including Helicopter Technology, in October.
Both companies have now agreed to settle with the town for under $10,000. Now, attorney Matt Dannheisser is seeking an additional $17,000 in attorney’s fees added to the claim against Helicopter Technology for his work on the case.
After that hearing, which will not take place for about three weeks, Century Mayor Freddie McCall said he expects the foreclosure to soon become final.
“There’s nobody here as far as I know to protest,” McCall said of Van Nevel and Helicopter Technology. “Mr. Van Nevel is out of the country as far as I know.”
One of the biggest points that the town will be required to prove in court is the amount of interest owed, Town Attorney Matt Dannheiser said in a recent letter obtained by NorthEscambia.com. According to the letter to Mayor Freddie McCall, Dannheiser said the interest rate could mean a $235,000 difference in the amount of money the town receives.
The promissory note provides for a seven-percent interest rate, making the total amount owed by Helicopter Technology $471,000. But one provision of the note provides for an 18-percent default rate, which would make the total amount the town could claim $706,000 if the rate is applied back to March 1, 2004 — the first day of default.
If the building is sold at auction for less than $471,000, the interest rate is unimportant, Dannheisser’s letter says. But if it sells for more than $471,000, the excess would go to the other lien holder before the town. If the court agrees the interest rate should be the 18 percent back to 2004, the town would receive the full auction selling price up to the $706,000 before a lien is paid.
“Of course, that effort would be for naught if the amount bid at the foreclosure sale would be less than $471,000,” Dannheisser said in his letter to McCall.
Pictured bottom: Helicopter Technologies owner Georges Van Nevel addresses the Century Town Council in early June 2008. NorthEscambia.com file photo, click to enlarge.
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