Fifth Third Bank has won a $15.5 million judgment against Stonewall Farm owner Audrey Haisfield and her son, Marc Haisfield, in Fayette Circuit Court. It's the second multimillion-dollar judgment against Stonewall.
The bank, which sued the Haisfields in May for defaulting on loans, was awarded $14,759,670.24 against Audrey Haisfield and $789,127.42 against Marc Haisfield on Aug. 26.
The amounts reflect the sale of Stonewall's stallion Strong Contender for $300,000, according to court documents.
John Hamilton, attorney for the Haisfields, could not be reached for comment. Fifth Third Bank does not comment on litigation.
JPMorgan Chase Bank also has sued in Lexington, alleging that Stonewall owes more than $7 million; another bank won a $16 million judgment against Audrey Haisfield and her husband, Richard Haisfield, in a Pennsylvania court.
Several of the farm's business entities have filed for bankruptcy protection in Lexington and in Florida. Audrey and Marc Haisfield, who guaranteed the Fifth Third loans, have not filed for personal bankruptcy.
Stonewall turned over to Fifth Third more than 100 horses that were collateral for the loans. The horses are scheduled to be sold at upcoming Thoroughbred auctions.
Stonewall has agreed in U.S. Bankruptcy Court in Lexington to turn over stallion-service certificates so the horses can be sold. The proceeds will go into escrow to pay stud fees, which are owed to Chase to pay off loans on the stallions.
Stonewall Acquisitions, the successor to the bank that won the $16 million Pennsylvania court judgment, has filed emergency motions to seize two stallions and the Woodford County farm.