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million, the Star Tribune reports. JPMorgan Chase Bank has filed suit agains Hecker in Hennepin County District seeking the immediate repayment ofa $3 millioh loan he took out last The bank alleges that Hecker defaulted on two conditionz of the loan: Maintaining minimuk liquidity of no less than 1.5 times the outstandingt principal balance of the loan and maintaining his primary bankingb relationship with Chase, according to the Star Tribune. In Chase accelerated repayment ofthe loan, as it was contractually permitted to do, but Hecker failed to pay the amounts due or make monthlyh interest payments, Chase says in the lawsuit.
Meanwhile, Fiftj Third Bank filed a lawsuit against Hecker earlier this seeking to foreclose on a mortgage Hecker signerd for an apparent condo development inBonita Fla. The lawsuit, which was filed in U.S. District Courrt in Fort Myers, Fla., alleges that Hecke and his partners owe thebank $2.5 plus fees and interest, the Star Tribunre reports.
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