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More bad blood.


Rebsamen Insurance Inc. has filed lawsuits accusing Rebsamen's former owners, Dr. Raymond Roland Remmel and Mary R. Wohlleb, of defaulting on their loans.

Rebsamen said Remmel owes $28,000 on a loan of $161,000 and Wohlleb owes the same amount on a $155,000 loan, according to court records filed in Pulaski County Circuit Court.

An attorney for Remmel and Wohlleb, James H. Penick III of Little Rock, said the loans will be paid off this week.

Penick, who is representing Remmel and Wohlleb in a lawsuit against Rebsamen over the 2001 sale of the insurance company to Regions Financial Corp., said he thought the loan dispute was going to be put on hold while that lawsuit was pending.

In that case, Ruth Remmel Revocable Trust and other Remmel family members have filed a $20 million lawsuit accusing longtime family financial adviser and member of Rebsamen's board of directors, Phil Herrington, and Rebsamen CEO Allen J. McDowell of duping the Remmels into selling the company just before business improved.

Herrington and McDowell have denied the charges in court papers.

Penick said Rebsamen went ahead and filed the lawsuit to collect on the loans without notifying his clients first.

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Title Annotation:Rebsamen Insurance sues former owners
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Nov 17, 2003
Words:199
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