United Community Bank moves to drop Buske foreclosure

Amelia Flood Dec. 21, 2009, 5:35am

The bank that moved to reclaim a restaurant property owned in part by one of the parties in a high-profile Madison County divorce is moving to drop its foreclosure action.

United Community Bank filed a motion to dismiss its foreclosure action against Thomas Buske and the other managers of the limited liability corporation that owns property at 914 Edwardsville Road in Troy. The property is the site of Krieger's Sports Grill.

The bank began foreclosure proceedings on the site in late September.

Thomas Buske faces federal fraud charges in Wisconsin. He is liable for a $203.8 million civil judgment in Wisconsin. S.C. Johnson and Sons Inc., the company Thomas Buske allegedly defrauded of millions using inflated invoices from his trucking concerns, had contested his divorce from his wife, Sara Buske, until a settlement was
reached at the beginning of this month.

Thomas Buske has pled not guilty to the Wisconsin criminal charges.

United Community moved to dismiss the foreclosure on the property without prejudice.

No attorney had entered an appearance on behalf of Buske, Kevin Jones, Steven Gardner, Patrick Ryan of Edwardsville and Nailesh Patel of Fairview Heights.

Emmett Fairfield represents the bank.

The foreclosure is Madison case number 09-CH-910.

More News