James Brown Looks to Settle Debt
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AIKEN, S.C. (AP) _ An attorney for soul singer James Brown thinks he can stop the sale of Brown’s $400,000 home and the more than 60 acres of land in Beech Island where it’s located.
Brown has 10 days to repay a debt of more than $900,000 for a building he bought in downtown Augusta, Ga.
SouthTrust Bank, which lent Brown the money for the purchase, can move to have his property sold unless the debt is paid.
The bank won a lawsuit in Richmond County, Ga., and sued in Aiken County in August seeking the residence and land to help repay the loan.
Brown owes SouthTrust $754,544. Interest and attorney’s fees make up the rest of the $914,161 debt, according to court records in Aiken.
Brown can stop the process by selling the building for the same amount as the debt.
His attorney, Albert Dallas, couldn’t say Wednesday whether a deal would be reached within that time.
``We’re working it out. We are optimistic a satisfactory arrangement can be made,″ Dallas said.