Date: Fri 29-Dec-1995
Date: Fri 29-Dec-1995
Publication: Bee
Author: KIMH
Quick Words:
Arfaras-Foreclose
Full Text:
George Arfaras/Foreclosure
B Y K IM J. H ARMON
The Newtown Savings Bank has filed a civil action against Newtown Sports
Properties Limited Partnership, seeking to foreclose on George Arfaras'
Newtown Health and Fitness Club on Commerce Road.
According to papers filed in the town clerk's office, Newtown Savings Bank is
not only seeking foreclosure of the mortgage on the property, but immediate
possession of the premises, monetary damages, order of ejectment, attorneys
fees, and costs of the suit.
John Martocci, president of the Newtown Savings Bank, said he was unable to
comment on the issue.
But Mr Arfaras, who owned the club for the better part of two decades said,
"We had some problems and I fell behind in some of the payments, but we're
working with the bank and hopefully we can work something out in a month or
so."
Mr Arfaras blamed some of his troubles on damage the club suffered during
storms in 1994 and while business has been bad, he said, memberships are going
up.
"I'm starting to get caught up," he said. "We had a lot of problems, but it's
coming around."
Mr Arfaras is scheduled to appear in Danbury Superior Court on January 9 to
state his case.
