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Zoldan sues Ice Zone partner
By Kalea Hall
BOARDMAN
Bruce J. Zoldan, co-owner of the Ice Zone, has filed a lawsuit in the Mahoning County Court of Common Pleas against his business partner, Thomas E. Hutch, for monetary damages and breach of contract.
The complaint alleges Hutch failed to pay his part.
William A. Weimer, vice president of the B.J. Alan Co. and general counsel, wouldn’t comment on the lawsuit except to say: “We will let the facts speak for themselves” in the complaint.
Hutch, of Poland, could not be reached to comment.
Zoldan’s lawsuit comes a day after PNC Bank filed a foreclosure complaint against Zoldan, who also is the president and CEO of the B.J. Alan Co, known for its Phantom Fireworks, and co-owner of the Youngstown Phantoms hockey team; Hutch; and the Ice Zone.
The Ice Zone property, under Ice Zone Realty Ltd., is valued at about $1.8 million, and the land, under the Zoldan Hutch Land Partnership, is valued at $196,080, according to the Mahoning County Auditor’s website.
The bank’s complaint filed Tuesday claims Zoldan and Hutch are in default on the balance of a $2,826,475 promissory note and nearly $1.8 million is owed on the facility, located at 360 McClurg Road and on vacant land on McClurg.
Zoldan said there is no plan to close the Ice Zone, and he hopes all is resolved in court.
“At this stage, we are not planning on closing,” he said.
“Hopefully, the Ice Zone will continue to be a sports- entertainment center in the Mahoning Valley. That’s my goal.”
Zoldan’s complaint against Hutch specifically mentions a $3.3 million promissory note the partners entered into with National City Bank — now PNC Bank.
The lawsuit states Zoldan paid $1,365,814 and Hutch should have paid 50 percent of that, or $682,907.
It also alleges Hutch failed to pay the entire amount on a $50,000 promissory note from October 2011 that was to be paid by October 2014. More than $16,000 is still owed to Zoldan from that note.
Payment on a note from September 2014 in the amount of $10,000 plus interest also is due.
In December 2009, a note was recast from Ice Zone Ltd. to PNC Bank in the amount of $2,826,475. Zoldan paid $124,991 from May to October 2010 on the note. Zoldan also paid $42,033 on behalf of the Ice Zone entities for capital repairs and improvements.
Hutch, as co-owner, should have paid $62,495 toward this cost, Zoldan alleged in his suit.
Zoldan would like to receive $682,907 plus interest from Hutch.
He also wants $16,546 plus interest and $10,177 plus interest.
Zoldan also would like Hutch to convey his interest in the property or pay monetary damages of $97,709.