The owners of a well-known Royal Lipizzan horse ranch are fighting a bank's attempts to foreclose on it.
In papers filed in Manatee County Circuit Court last week, Herrmann's Royal Lipizzan Stallions of Austria's owners said Whitney National Bank's lawsuit should be dismissed on a variety of legal grounds.
Among them: that the bank failed to file a probate claim against the estate of Col. Ottomar Herrmann, who started the ranch on Singletary Road and trained the white stallions for performances across the country before his death in 2004.
Whitney sued his estate and its two personal representatives - his daughter, Gabriella Herrmann, and her daughter, Rebecca McCullough - in August, claiming they defaulted on a $1 million loan and two future advances totaling $38,000.
The bank is seeking to foreclose on two parcels totaling 171 acres that were pledged as collateral.
Whitney might not have standing to do that, argues Christopher Forrest, a Sarasota attorney representing Gabriella Herrmann, McCullough and the estate.
First, the bank hasn't given evidence that it now holds the mortgage, he contends in court papers. The original loan was issued by 1st National Bank & Trust, which was acquired by Whitney in 2005.
Secondly, Whitney hasn't filed a claim against the estate. That voids the foreclosure suit because creditors who do not file a probate claim in a timely manner are prohibited by state law from suing the estate, he contends.
Forrest also argues Whitney hasn't shown that Gabriella Herrmann and McCullough had legal authority to modify the original mortgage by taking out the advances.
No hearing date has been set, but Forrest said Friday that the Herrmann family remains hopeful it will be able sell at least part of the land. A 131-acre portion is listed for sale at $20,000 an acre, with a 15-acre minimum.
"There's a lot of people in the community who would like to see it work out for the Herrmann family," Forrest said.
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