Lawyers for a company created by Carolina Panthers owner David Tepper assert that the lawsuit filed Wednesday by the city of Rock Hill is based on “false and incendiary allegations,” court documents show.
The city is suing GT Real Estate Holdings, LLC, in federal bankruptcy court for its original $20 million investment, plus damages, over the failed Rock Hill project.
GT Real Estate is the company Tepper specifically created to build the team’s headquarters and practice site in Rock Hill, which supposedly was going to spur hundreds of millions in economic development. The project collapsed as the sides argued over money.
In an adversary lawsuit, Rock Hill claims it was ready to issue $135 million in bonds, but GT Real Estate was dishonest and fraudulent before halting construction on the site and filing for bankruptcy earlier this year.
GT Real Estate lawyers, in a court filing late Wednesday, slammed Rock Hill’s lawsuit as legally improper and said it was filled with “preposterous” claims.
“It seems that the true purpose of the adversary complaint is to level a host of false and incendiary allegations at the debtor and its principals,” Tepper’s lawyers wrote. “These allegations are utterly meritless.”
Tepper’s lawyers, in Wednesday’s filing, reiterated their previous claims that Rock Hill failed to issue bonds, which were required under an agreement between the city and GT Real Estate to build the headquarters project. His lawyers also said Tepper’s company invested $240...
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