Suit seeks $3M from Aspen businessman
August 25, 2009
ASPEN – Aspen businessman Scott DeGraff has been hit with a breach of contract lawsuit that claims he owes $3 million.The lawsuit, which was filed in Pitkin County District Court on July 23, was transferred to the U.S. District Court in Denver last week.D & R’s Aspen Retirement Plan LLC filed the suit, which claims that DeGraff took out a loan from the plaintiff in March 2008. On the Dec. 31, 2008, maturity date, DeGraff was required to pay $3 million along with interest, the suit claims.DeGraff failed to pay on the maturity date and is in default of the loan, the suit says. The suit marks the latest legal hurdle for DeGraff, who had planned to reopen the historic Red Onion location in downtown Aspen, but was let out of the lease last month when financial pressures mounted.DeGraff is on the receiving end of several lawsuits and liens seeking a combined seven figures for his alleged debt.