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Bankable Papa

A long legal battle between a disgruntled vendor and a proto-bank sponsored by real-estate guru and U-T publisher Douglas Manchester is about to have another round in court, this time in Houston, Texas.

The extended tale began back in January 2008 when the La Jolla Republican and some friends set out to establish the Manchester Financial Bank. The plan was dropped after that year’s stock market crash, but not before the would-be financial operation contracted for work by 21st Century Financial Services. The unformed bank claimed it didn’t have to pay the bill, but in 2010 an arbitrator sided with 21st Century, awarding it $477,070.39, plus interest until paid in full.

The Manchester partners sued, but last spring U.S. judge Lee Yeakel ruled in favor of the vendor. Manchester’s appeal of that adverse judgment has been set for February 6.

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A long legal battle between a disgruntled vendor and a proto-bank sponsored by real-estate guru and U-T publisher Douglas Manchester is about to have another round in court, this time in Houston, Texas.

The extended tale began back in January 2008 when the La Jolla Republican and some friends set out to establish the Manchester Financial Bank. The plan was dropped after that year’s stock market crash, but not before the would-be financial operation contracted for work by 21st Century Financial Services. The unformed bank claimed it didn’t have to pay the bill, but in 2010 an arbitrator sided with 21st Century, awarding it $477,070.39, plus interest until paid in full.

The Manchester partners sued, but last spring U.S. judge Lee Yeakel ruled in favor of the vendor. Manchester’s appeal of that adverse judgment has been set for February 6.

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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