More Ram trouble

Arkansas Business, Oct 24, 2005

Remember last week we told you about a $1 million judgment against Ram Venture Holding Corp., which operates Natgear LLC in Little Rock?

Well, it seems Rebsamen Investments Ltd. of Little Rock also has rushed to the courthouse to file a case against Ram, the Fort Lauderdale, Fla., shell corporation and its former CEO, John Lewis of Little Rock.

Rebsamen said Ram owes $760,000 for two loans it defaulted on in September 2004, according to the lawsuit filed in Pulaski County Circuit Court. Lewis also had personally guaranteed the loans.

Rebsamen is seeking that money plus court costs and attorney's fees.

A Natgear official didn't immediately return a call for comment.

Last week, we told you that Ram was hit with a $1.07 million judgment for defaulting on loans from Delta Trust & Bank of Little Rock.

At one time, Ram Venture was hoping to buy struggling Stuttgart landmark Mack's Prairie Wings. That sale fizzled.

Ram Venture has stopped filing reports with the Securities & Exchange Commission because it has less than 300 shareholders.