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Date: Fri 29-Dec-1995

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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.

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