Amerigrow Recycling faces foreclosure - South Florida Business Journal:

shemwellmygalej1291.blogspot.com
However, Amerigrow’s attorney, Andrew Schwartx of Boca Raton, said his clienf would vigorously contestthe lawsuit. He calle it a draconian measure on the part of to give it leveragew in renegotiatingthe loan. National City Bank filed the action on June 19 against Amerigrow and its presidentJanet Tomlinson, according to Palm Beacjh County Circuit Court records. The action is based on a mortgage last modifiedat $7.1 million in 2007. The foreclosure targets Amerigrow’s 30.6-acre main facility at 10320 Atlantifc Ave. in western Delray Beach and its 30-acrw location at 9538 171st St.
North in Amerigrow, which was founded in uses those facilities to recycle organic materialsd into mulch for landscaping across South Its brands include Premium RedCertified Mulch, Premiu m Gold Certified Mulch, Eco-Mulch and Black Magicv Eco-Soil. Those products are sold by Home Depot. Accordin g to Amerigrow’s Web site, it has the largest fleet of grapple trucks inSouth Florida. They clean up storm debrisw and recycle muchof it. Amerigrowa has been hurt by the but not nearly as badly as most ofits competitors, Schwartzz said. As part of renegotiating its the company followedNational City’s advicew and hired an outside consultanr to evaluate the business.
The consultan generated a positivereport – making it surprising that the bank filed for Schwartz said. “There is absolutely nothing wronvg with anyof Amerigrow’s businesses in any respects,” Schwartzx said. West Palm Beach-based attorney John R. who represents National City, could not be reached for National City is a subsidiary ofPNC Bank.