Brian Anderson hit with $2M judgment - Business First of Buffalo:

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First Circuit Judge Bert Ayabe also orderedthat Anderson’s company, Anekona KBR, pay $7 million. That was the amount sought by the investors, LLC, Axle LLC and Max Holding LLC, according to the judgment fileed in the Honolulu court onJune 15. Andersonj lost the 145 residential units and 16 commercial unitss owned by his LLC at a publicf foreclosure auction last montb after defaultingon $29.5 million owed to lender . The New York-basede lender was the high bidder at the May 6 publi c auction witha $12 millio bid, and then again outbid a competitor at the June 9 confirmationm hearing with a $15 million bid. Tashio, Axle and Max Holdingw claimed in their lawsuit filedon Oct.
3, 2006 that they put $5 millionj into the resort project to gain a 35 percent Anderson had agreed to paythem ­$10o million to buy them out, they claimed. They claimef that Anderson’s company made only one paymentof $3 million on Aug. 4, 2006. “Hi entity probably has no assets, so the $7 million judgment against an entitythat doesn’t have anything is said Honolulu attorney Thomas who represented the investors. “But he facecd personal exposure in the litigation and in the settlement he was agreeable toa $2 million personao judgment against him.
” Anderson declined to comment on the Anderson’s KB Resort purchase the Kauai Beach Resort, which is on 12 acresa of land just north of Lihue, in December 2004 for $62 In the fall of 2005, Andersonh announced plans to turn the 350-roomn property into fee-simple condominiums and begajn a $15 million renovation. The formerly under the Radisson flag, became a Hilton in Octobefr 2006. KB Resort sold off 205 Anderson had said last year that the 145 units up for auctiob had been in escrow to an unnamedsinglee buyer, but the sale never materialized and iStar’s foreclosurse action went forward.