One day after Bank of the West filed a lawsuit against the Remy family, Bank of Oklahoma filed one of its own, accusing the commercial real estate investors of not paying $2.72 million in loans.

Bank of Oklahoma is also seeking to foreclose on two pieces of property owned by the Remys and their business organizations - 21.86 undeveloped acres on 111th Street between Memorial Drive and Sheridan Road and the site of Compadres Mexican Grill at 2200 W. New Orleans St. in Broken Arrow - that are tied to three loans issued by the bank.

The lawsuit by Tulsa-based BOK Financial Corp., parent of the bank, also requests that its claims take priority over all the other organizations that loaned the Remys money on the properties. In total, the properties are tied to seven loans issued to the Remys since 2007 by five entities, including BOK, totaling $5.69 million, according to Tulsa County land records.

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The lawsuit, filed Thursday in Tulsa County District Court, names L. Leon, Sherry, Tim, Lisa, T.J., Julie and Robin Remy, the Sherry E. Remy Revocable Trust, the L. Leon Remy Revocable Trust, Remy Enterprises, Home Ventures Inc. and Landrun Design and Development Co. Inc. as defendants.

Others with claims on the properties - Shelby D. and Pamela Oakley, ONB Bank and Trust Co., Precision Door Inc., SpiritBank, Tulsa County Treasurer Dennis Semler and the Tulsa County Board of Commissioners - are also named as defendants.

The suit does not specify whether the Broken Arrow land claim includes the Compadres building located on the property.

Bank of Oklahoma representative Jesse Boudiette said the company is declining to comment on the lawsuit. Representatives of the Remys were unavailable.

In the lawsuit, BOK claims it lent the Remys $1.07 million in August 2009 and secured it with two existing BOK mortgages on the Tulsa and Broken Arrow properties. Those previous loans were renewed last September and October for $938,000 and $572,000, respectively.

BOK claims the Remys ceased payment on the first and second loans in December 2009 and with the inclusion of interest now owe $1.14 million and $1 million on them. The Remys allegedly ceased payment on the third loan last month and now owe $580,000 on it.

In addition to seeking the money it's allegedly owed, BOK is seeking to foreclose on the two properties.

Land records indicate SpiritBank lent the Remys $1.77 million and linked it to the Tulsa property in January 2009.

The Broken Arrow property is linked to an August 2009 loan from the Oakleys for $200,000, a December 2009 loan from ONB Bank for $683,000, and a March 2010 loan from Precision Door Inc. for $221,130.

All of the loans are outstanding, although land records do not indicate how much is owed.

Semler and the county commissioners are listed in the lawsuit because of unpaid personal property and real property ad valorem taxes plus penalties and interest. The Tulsa property owes $26,412.57, while the Broken Arrow property owes $14,769.82, according to Tulsa County Treasurer's Office records.


Remy family faces multiple lawsuits

Bank of Oklahoma’s lawsuit is the latest in a string of problems for the embattled Remy family of commercial real estate investors. On Wednesday, Bank of the West filed suit alleging failure to repay $3.85 million in loans and the forging of signatures of officials at SpiritBank and Tupelo, Miss.- based BankcorpSouth Bank on bank accounts used to secure the loans. The Remy family and its businesses are facing lawsuits brought by Fannie Mae, a government-controlled enterprise that buys mortgages from primary lenders, and RC Sooner Holdings, which purchased eight apartment complexes from the Remys. Both allege the Remys sold the apartments without telling the buyer that the properties’ mortgages were in default or telling Fannie Mae that they were being sold. The lawsuits seek full repayment of the $28.58 million in balances on eight loans. A pair of lawsuits against the family, brought by parties claiming to be minority owners in the Cross Creek retail and warehouse center, were settled out of court last month. The Remy family and its companies also gave up their $50 million, 130,000-square-foot SpiritBank Event Center and the Regal Plaza shopping center, both in Bixby, to SpiritBank late last year in a deed in lieu of foreclosure action. Land records indicate the Remys owed nearly $28 million inmortgages granted by the bank in 2006, 2008 and 2009.


Robert Evatt 581-8447

Original Print Headline: BOK sues Remys in real estate loan deals

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