Brunswick Co. golf course owner being sued by Bank of America

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Submitted: Wed, 04/25/2012 - 9:13pm
Updated: Thu, 04/26/2012 - 12:53am

SUNSET BEACH, NC (MYRTLE BEACH ONLINE) — The future of numerous developments and tracts of land in Brunswick County, including the four-course Ocean Ridge Plantation and Rivers Edge Golf Club, are in question because of a lawsuit filed by Bank of America against the properties’ owner.

The lawsuit, which is in North Carolina Business Court, is against Mark Saunders and developments and businesses under his umbrella company The Coastal Companies.

“We have been working with the borrowers for some time to help them resolve their financial issues, but the borrower is in default and owes the bank $68 million and that is why we filed the lawsuit,” said Bank of America spokesperson Shirley Norton, who declined further comment.


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