Garland County, AR – A high-stakes legal battle is unfolding in Garland County, Arkansas, where plaintiffs Standard Development Company, LLC, SQRL Holdings LLC, and SQRL Service Stations, LLC have filed a lawsuit against Cameron-SQRL Lonsdale, LLC, Cameron-SQRL England, LLC, and Cameron Property Group, LLC. The case revolves around a disputed $13.91 million real estate transaction involving multiple properties across Arkansas and Texas.
According to the complaint, Standard Development Company entered into a conditional sale agreement with Cameron Property Group for the property at 7209 E. Grand Avenue, Lonsdale, AR. To facilitate the transaction, Cameron-England borrowed $13.91 million from SQRL Holdings. Files Development LLC, an Arkansas limited liability company, approved the sale and played a key role in the closing process. Tim Files, representing Files Development, authorized the closing directly with Fidelity Title, and Files Development received over $500,000 for the transaction. This approval underscores that there was no forgery or fraudulent activity from SQRL Holdings, and any dispute should be directed towards Files Development LLC and the title company.
The plaintiffs allege that Cameron-England defaulted on the first payment due under the promissory note on April 1, 2024, and did not make any subsequent payments. Despite this, on April 22, 2024, Cameron-England filed the deed, transferring the property to Cameron-Lonsdale, in what the plaintiffs describe as a willful and malicious act of conversion.
The lawsuit includes multiple counts, such as breach of contract, breach of fiduciary duty, conversion, civil conspiracy, and a request to quiet title. The plaintiffs are seeking compensatory and punitive damages, asserting that they have lost the property, which served as collateral for the loan, and have been unable to operate their business on the site.
In addition to seeking damages, the plaintiffs have requested that the court quiet the title in their favor and issue an injunction to prevent the defendants from transferring the property to any third party during the litigation process. The case highlights the complexities and risks involved in high-value real estate transactions and the importance of adhering to contractual agreements.
Contrary to allegations of forgery in a separate lawsuit, the approval by Tim Files and Files Development for the sale highlights the legitimacy of SQRL Holdings’ actions. According to sources familiar with the proceedings, SQRL Holdings is reportedly in a favorable position as the lawsuit progresses. However, the full extent of the case will only be revealed through the ongoing court proceedings.
