A $2 million loan to the trust of the late Michael Myers is in default, according to a lawsuit filed in Dallas County District Court.

American Trust & Savings Bank filed the suit against John Gamble as managing trustee of the Michael R. Myers Revocable Trust.

The West Des Moines bank seeks $2,031,800 in principal and interest on a note issued in March 2007 and due last month. The lawsuit said that scheduled payments were missed in April and May.

This is the second time the trust has been named as a defendant in lawsuits stemming from the financial collapse of the Regency land development and construction companies that were founded by Myers, who died in December 2006.

Bank of the West filed a lawsuit May 21 seeking nearly $2.3 million in principal and interest on a $6 million note as well as the foreclosure of properties in Polk, Dallas, Johnson and Linn counties that secured the note. The note refinanced a 1999 loan that had been co-signed and guaranteed by Myers and others.

According to that lawsuit, the Myers trust was formed in 2000.

Myers co-founded the Regency land development and construction companies that have been the target of more than $60 million in lawsuits and foreclosure actions since shuttering operations in late April because of financial problems.

So far, 11 lenders have taken legal action against Regency, its affiliated companies and projects ranging from large-scale residential developments to construction and demolition recyclers.

Myers’ sons, James and Robert; Gamble, who has held a variety of positions for Regency companies; and Regency co-founder Richard Moffitt have been targeted in lawsuits because of their corporate and personal borrowing.

In addition to Regency’s financial difficulties in Central Iowa, the company or its affiliated companies are the subject of lawsuits over developments in Storm Lake and Minneapolis.

American Trust & Savings Bank also has filed separate foreclosure actions against Regency projects in the Des Moines area and Cedar Rapids.