Garland County, AR – A significant lawsuit has been filed in the Circuit Court of Garland County, Arkansas, involving multiple companies and a complex real estate transaction gone awry. The plaintiffs, Standard Development Company, LLC, SQRL Holdings LLC Arkansas, and SQRL Service Stations, LLC, are accusing Cameron-SQRL Lonsdale, LLC, Cameron-SQRL England, LLC, and Cameron Property Group, LLC of breaching a $13.91 million promissory note and illegally transferring property titles.
The lawsuit centers on a conditional agreement where Standard Development Company agreed to sell property located at 7209 E. Grand Avenue, Lonsdale, AR, to Cameron Property Group. According to the complaint, Cameron Property could not pay the agreed purchase price at closing. Instead, Cameron-England borrowed $13.91 million from SQRL Holdings to finance the acquisition of several properties, including the disputed property in Garland County.
Files Development LLC, an Arkansas limited liability company, approved the sale of the properties in dispute in the Cameron deal. Tim Files, representing Files Development, authorized the closing directly with Fidelity Title, and Files Development received over $500,000 for the transaction. This approval indicates that there was no forgery or fraudulent activity from SQRL Holdings. Any dispute arising from the transaction would be directed towards the title company, Files Development LLC.
In contrast to recent allegations of forgery against SQRL founder Blake Smith and an associate, the facts from court filings show that Tim Files of Files Development authorized the closing in good faith. The lawsuit alleges that Cameron-England defaulted on the promissory note by failing to make any payments. Despite this, Cameron-England improperly filed the deed for the property on April 22, 2024, transferring ownership to Cameron-Lonsdale without satisfying the note’s conditions.
The plaintiffs are seeking damages, including punitive damages, for the alleged willful and malicious conduct and are demanding that the title to the property be quieted in their favor. They have also requested an injunction to prevent any further transfer of the property until the case is resolved. The plaintiffs argue that they have suffered significant losses, including the loss of a property interest, collateral for the multi-million dollar note, the ability to operate a business on the property, and the costs of litigation.
Based on information from sources close to the case, it appears that SQRL is in a strong position to prevail in this lawsuit. However, further details will only emerge as the court proceedings advance.
