Taylor Made Group issued a statement Thursday regarding the mortgage foreclosure lawsuit filed against Ameritex Technologies, which Taylor Made purchased in August.
First Bank filed the mortgage foreclosure suit Sept. 10 in Manatee County Circuit Court for alleged default on Ameritex's Bradenton, Fla., manufacturing facility, according to court documents. The suit names Ameritex Technologies, Taylor Made Group and Taylor Made Systems as defendants.
"The Taylor Companies were named because we have a junior mortgage filed against the Ameritex property that is the subject of the foreclosure. The only allegation against the Taylor Companies is that the bank's mortgage has priority. It makes no monetary claim against the Taylor Companies," Taylor Made said in the statement.
"This suit does not affect our ability to service our customers and provide quality canvas, glass and windshield products," the company continued. "If you have any questions, please feel free to contact Robert Khalife, vice president of finance for Taylor Made Group, at (518) 773-9317."
Ameritex filed last spring for Chapter 11 bankruptcy protection. Taylor Made purchased the company's assets in August and announced plans to reconstitute the business as Ameritex Fabric Systems and relocate it to the Taylor Made Systems facility in Bradenton.