Lawsuit imperils Ghost Runners Brewery waterfront plans

first_imgA dispute between Ghost Runners Brewery and an investor spilled into the courts last week and could affect development of its coveted waterfront real estate.In a complaint filed Friday in Clark County Superior Court, Texas-based investor Brad Rummer argues that the brewery has been mismanaged into insolvency and its assets should be sold off by a receiver.Jeff Seibel, who together with his wife, Amy, owns the majority of the company, calls the mismanagement claims untrue and said the suit is part of a “hostile takeover.” He says Rummer torpedoed the business so he could seize its assets — including a 6,500-square-foot space at The Waterfront Vancouver.Neither Rummer or his attorneys at Vancouver firm Landerholm could be reached for comment.Rummer’s complaint states he was recruited as an investor whose portfolio could help Ghost Runners Brewery land a lease at The Waterfront Vancouver, a multibillion-dollar development near the Columbia River that at the time had not yet broken ground. Rummer invested $200,000 and came to an agreement with the brewery’s three co-owners.Rummer’s complaint alleges that sometime after entering into the agreement, the brewery’s sales started to slide and he was asked to invest more capital. The complaint further alleges the brewery failed to meet some of its obligations to Gramor Development, the Tualatin, Ore.-based firm with whom Ghost Runners signed its waterfront lease.last_img

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