According to Stark County Court of Common Pleas records, Stark County Commissioner Pete Ferguson is a defendant, in his individual capacity, in a lawsuit filed by National City Bank (NCB) regarding a default in payment on a promissory note in the amount of $368.500.00, dated May 1, 2007 (said in the complaint to be $375,610.35 plus accruing interest as of the date the suit was filed [Ferguson, running as a Democrat, was elected county commissioner in November, 2008]) and mortgage securing same for which Ferguson's property at 3507 Cleveland Avenue NW, Canton is as being collateral.
Moreover, NCB included a claimed default for another $89,600 ($91,336.60 plus accruing interest as the date the suit was filed) on a Business Credit Line and Security Agreement.
Right now the case is in mediation by order of Judge Charles Brown. Ferguson is defended on the suit by Attorney Samuel Ferruccio, Jr. who is one of two Democratic representatives on the Stark County Board of Elections.
The SCPR contacted Ferguson for comment on the suit but Ferguson said he didn't know anything to pass on to yours truly about background factors leading to the suit and the status of the suit except to say that he is confident that matters will be worked out.
The suit was filed on April 3, 2009 and Judge Brown's order putting it into mediation was filed on June 3, 2009.
What is the political significance of this story?
Here's the SCPR take.
Did Ferguson know when he ran for county commissioner that this foreclosure action was in the offing?
If so, had it been revealed to Stark County voters, could we be looking at a Commissioner John Hagan rather than Commissioner Pete Ferguson?
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