Business Services Industry
Tokyo-Based Financial-Services Firm Buys Grafton, Wis., Golf Club.
Knight Ridder/Tribune Business News, December, 2002
Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Dec. 24--Orix Capital Markets LLC, the holder of the mortgage on Country Club of Wisconsin, bought the Town of Grafton golf course at a sheriff's auction Monday for $4.06 million after no other bidders surfaced.
Wellington Golf, which has been fighting a court-ordered foreclosure on the course since May, owed Orix about $6 million. That means Orix will likely obtain a $2 million judgment next month against Wellington Golf at an auction confirmation hearing in Ozaukee County Circuit Court.
Such a judgment would add to the mounting troubles at Brookfield-based Wellington Management Corp., Wellington Golf's parent company.
Wellington Management's brokerage arm --...
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