John ''Thunder'' Thornton Sues Over Rarity Bay Failure
October 30, 2009 3:36 PM
Chattanooga developer John "Thunder" Thornton is suing the Maryville, Tenn., developer who failed to complete Rarity Club on Nickajack Lake in Marion County, Tenn.
In a four-page lawsuit filed Friday in Marion County Chancery Court, Mr. Thornton is seeking $9.8 million, plus interest and penalties, from Rarity Communities Inc. President Michael Ross. Chattanooga attorney Bill Horton accuses Mr. Ross of "misrepresentation, fraud and negligence" for not building the promised marina, golf course and wellness center at Rarity Club.
In September, Green Bank took over most of the unsold portion of Rarity Club after Mr. Ross defaulted on more than $15 million of bank loans for the Marion County project.
