TUPELO — The Mississippi Supreme Court has ruled that several allegations in a lawsuit over an $850,000 debt related to the now-defunct Tupelo T-Rex hockey team should be reviewed by a Lee County judge.
The Supreme Court dismissed some claims by R.W. Whitaker and Monty Fletcher, saying the statute of limitations had run.
Justices, however, said issues remained to be disproved, despite their dismissal by a trial judge.
In 2001, negotiations began between William Kidd, managing director for Limeco Corp., and Whitaker and Fletcher to purchase the team.
At issue is whether Limeco Corp. and Kidd defrauded Whitaker and Fletcher by not repaying the money they loaned them.
Whitaker and Fletcher contended Kidd deceived them about the payback by saying Limeco had enough assets to pay back the $750,000 loan, if he couldn’t. Later, Kidd talked Whitaker into lending him another $100,000, according to the lawsuit.
The Supreme Court said questions of fact remained about allegedly fraudulent acts and when they were known to the plaintiffs.