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2nd bank sues Stonewall Farm, for $7M

Stonewall Farm Stallions and Thoroughbred breeder Audrey Haisfield have been sued by a second Lexington bank.

On July 9, JPMorgan Chase sued Stonewall, Haisfield, Nevertell Farm and various related entities in Fayette Circuit Court, alleging default on multiple loans. According to the suit, Haisfield owes Chase more than $7 million.

One of the loans was secured with interests in Thoroughbred stallions Leroidesanimaux and A.P. Warrior; Chase wants to seize the stallions and sell them to pay off the loans.

Chase also wants to take possession of a number of yearlings and mares, as well as shares in various stallions.

John Hamilton, an attorney for Haisfield, said Thursday that a hearing is scheduled Tuesday on the bank's request to appoint a receiver.

"We intend to cooperate with the bank and may well enter into an an agreed order," Hamilton said.

Haisfield, Stonewall and Nevertell were sued in May by Fifth Third Bank, which alleged they owed $14.85 million on defaulted loans. Stonewall has turned over the collateral horses to satisfy that debt.

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