YORK COUNTY, S.C. — One of David Tepper's companies entangled in the failed Panthers HQ project in Rock Hill is now firing back against York County in court.
In June 2022, the county sued three of the team owner's companies, claiming they misused $21 million of public funding on the project. The county's suit claims the money was set aside to expand Mt. Gallant Road, which was tied to the project. But the county's suit said Tepper's companies didn't use the funds for the project's budget. The county suit also placed blame on the City of Rock Hill for failing to issue necessary bonds, and that it led to both Tepper and the city to start pointing fingers over whose fault it was.
However, GT Real Estate Holdings, one of the Tepper companies involved in this case, has now filed a complaint requesting a declaratory judgment and injunctive relief in Delaware bankruptcy court. According to the complaint filed on July 14, the money that York County paid out had "no binding contractual obligations" with it.
The company also said the City of Rock Hill was expected to pay $225 million in bonds to finance the infrastructure, which Tepper's company would match or even exceed with private investment.
The full complaint filed can be read below
GT Real Estate Holdings claims the county's lawsuit violated an automatic stay as part of their earlier Chapter 11 bankruptcy filing, and it wants a judge to declare none of the other companies the county has filed suit against to be obligated to that $21 million payment. Additionally, the company wants the automatic stay to be extended and enjoined in all South Carolina state court actions against it.
The company's complaint also comes about two weeks after a bankruptcy judge in Delaware gave the green light for a $20 million loan from DT Sports Holding LLC to GT Real Estate to finance the failed project.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
