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Dear
Academy Die-Hards,
Major
Announcement
Many of you
are aware of the litigation between the Academy, Key Bank,
and Camco. We are getting so many questions we have decided
to put information on our website to make certain everyone
is informed. It also allows us to reduce the time we have
to spend answering your questions. In the future, we intend
to just refer you to our website for information.
The
litigation is under civil case number 050918901 in 3rd
District Court, Salt Lake City, Utah. Copies of the
relevant documents from that case can be found at:
www.utahbaseballacademy.com to learn more. We will be
adding a feature about “Frequently Asked Questions” to
address the concerns we learn about from our clientele.
The Purpose
of this news update is to announce the very good news that
the Academy has refinanced and paid off in full the KeyBank
construction loan. Mountain American has provided the
Academy with a new long-term mortgage, and we have paid
KeyBank off. KeyBank no longer has any claims against the
Academy, and we are no longer in danger of foreclosure.
However,
the litigation will continue. KeyBank’s actions have harmed
the Academy, and we have been forced to pay KeyBank a much
larger sum than we believe was actually due to them. Even
though we paid all their demands, we believe many of their
demands were unjustified and wrong. Rather than fight them,
we paid them. Now we are seeking to rectify the overcharge
and damages through prosecuting our claims against KeyBank.
Unfortunately, litigation takes time. So the KeyBank case
will probably go on for many months, perhaps years.
Ultimately, we expect a jury to hear our complaints against
KeyBank and decide the remaining disputes.
At this
point our top priority is to make sure that none of our
loyal customers who have supported us for over 23 years get
misinformation about this KeyBank caused mess.
Since we
have now overcome a major hurdle, now is also a good time
for us to restructure our entire business from top to
bottom. Sometime in May we hope to have another news blast
announcing new membership options as well as a host of other
programs. If any of you have ideas or suggestion on a
program you think would benefit your son or team we would
love to hear from you. Please check out the web site often
for updates.
Thanks
The
Baseball Academy
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