National Cattle Congress fighting foreclosure ruling

WATERLOO, Iowa (AP) – The National Cattle Congress plans to appeal a judge’s ruling that says the Sac and Fox Tribe of the Mississippi in Iowa can foreclose on Cattle Congress property.

The Waterloo-Cedar Falls Courier reports that the organization has asked the judge to reconsider his ruling and will take the case to the Iowa Appeals Court if necessary. The tribe’s attorney says he is resisting the motion for reconsideration.

At issue is a 1995 agreement in which the tribe, also known as the Meskwaki Tribe of Tama, provided a $9.1 million line of credit to support the entertainment and fairgrounds organization, which was undergoing bankruptcy reorganization.

Interest and nonpayment have boosted the amount to around $14 million. The tribe filed in May 2014 to foreclose on the Cattle Congress assets.

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Information from: Waterloo-Cedar Falls Courier, http://www.wcfcourier.com