File photo from state court system of courtroom..
File photo from state court system of courtroom..
Hall of Fame running back Emmitt Smith faces a lawsuit in Delaware Chancery Court over claims that his company misused a loan intended to advance a solar farm.
Courthouse News Service reported that a Cherokee tribal group filed a civil action against a company co-owned by Smith, 4 13 Solutions. The company invests in energy and real estate.
The suit claims that 4 13 Solutions used proceeds from a $2.5 billion loan from Kituwah LLC to pay off another loan. The solar farm project has not advanced, according to the suit.
Smith is the NFL’s all-time leading rusher and spent most of his long career with the Dallas Cowboys.
The loan was based on a quick payback once the solar farm began operating. Kituwah LLC also claimed that the company was shut out of management of the venture.
The venture never received private or federal loans, with 4 13 Solutions coming up with multiple excuses on not paying back the loan, according to the suit.
While best known for handling complex corporate disputes, Chancery Court also hears cases over payments and other transactions.
Cases are typically heard by a judge rather than a jury. Should the lawsuit advance, Smith could testify either in person or remotely.
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