A lawsuit filed on Thursday in Oakland County (Mich.) circuit court accuses Carolina Hurricanes owner Peter Karmanos Jr. of breaching the terms of a 2013 contract with a limited partnership formed by Karmanos and three of his sons. The lawsuit seeks immediate payment of more than $105 million in principal and interest.
According to the lawsuit, from 2000-2013 Karmanos obtained "tens of millions of dollars in loans and advances from various banks and the NHL (...) to be used to support the Hurricanes." The lawsuit states that Karmanos pledged assets of the partnership as collateral to guarantee the loans.