Posted 3/17/2014 12:00 am
General contractor Lewis May of Little Rock is facing new legal troubles.
May, president of dormant May Construction Co., recently was sued by Berkley Regional Insurance Co. of Urbandale, Iowa, to collect nearly $3 million paid out on performance bonds in connection with five construction projects between 2008 and 2009.
The lawsuit filed in U.S. District Court names May Construction, May and his wife, Debra. We couldn’t reach either of the Mays last week.
Berkley wants the money, plus the usual court costs and attorney’s fees.
In another recent lawsuit, Summit Bank of Arkadelphia is suing to foreclose on the Mays’ west Little Rock home for allegedly defaulting on a $100,000 loan that Lewis May took out in October 2007. Mays’ 6,814-SF home is appraised on the county books at $1.1 million.
After May renewed the loan several times over the years, it fell into default in April 2012, the lawsuit said.
As of Dec. 11, May owed $97,780 on the principal amount plus another $19,524 in interest, the lawsuit said.
Summit Bank wants a judgment against May for the amount or, failing that, permission to proceed with the sale of his home.
May Construction was once one of Arkansas’ largest general contractors. In 2008, May reported revenue of $94 million, making it the fifth-largest general contractor in the state.
But then the company went into a tailspin. May even faced a criminal charge in 2009 in Virginia in connection with not paying a contractor $453,000. Eventually, the felony fraud charge against Lewis May was dismissed, but May Construction pleaded guilty to a misdemeanor charge of petty larceny and paid a $500 fine in 2010.