In a bankers-versus-builders dispute before the Missouri Supreme Court, the builders won Tuesday.
The court ruled that mechanic’s liens should get priority over an unrecorded purchase-money deed of trust on a Blue Springs property where an all-terrain vehicle dealership was planned.
Blue Springs Xtreme Powersports borrowed $2.5 million from Lee’s Summit-based Hawthorn Bank in 2008 to buy the property, which is at 2501 S. Outer Road just off Interstate 70. The bank didn’t record its deed of trust until a day after liens were filed by contractors, who weren’t paid for work on the property. The dealership never got off the ground. Read more on Kansas City Business Journal.