OSHKOSH, Wis. (WFRV) — Two lawsuits have been filed in Winnebago County Court claiming owners of the Menominee Nation Arena have not been making payments to investors and the company that built the arena.
Bayland Building is suing Fox Valley Pro Basketball for more than $13 million – the amount they reportedly owe for the construction of the arena.
The builders say in the filing that Fox Valley Pro Basketball failed to make payments following the completion of construction and are in breach of their contract.
We have reached out to officials with Fox Valley Pro Basketball and the Menominee Nation Arena, but have not yet heard back.
According to the court filing made Friday, the builders believe the company is “insolvent or in imminent danger of insolvency.”
They’re asking that a receiver be appointed to have control over all property of Fox Valley Pro Basketball.
Despite the legal woes – taxpayers don’t have to worry – Oshkosh city officials say their deal to make reimbursement payments to the arena will be on hold.
“We’ve made no payments to them, this would’ve been the first payment this year, approximately November, but because of everything that’s going on I don’t anticipate making any payment this year until these issues get resolved,” Mark Rohloff, Oshkosh City Manager, told Local 5.
Rohloff says payments from the city would require the arena to be in full compliance with the development agreement.
“By this action, they’re currently not in that status so we’re not going to be providing any payments to them until all these issues get worked out.”
If you were planning on going to an upcoming event at the arena, the show is expected to go on. That includes the Wisconsin Herd’s upcoming season.
There is another lawsuit filed by an individual investor – claiming the company has failed to make payments on a $1 million loan.