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James and Robert Myers and other investment partners have defaulted on a $2.2 million loan for the renovation of a strip mall adjacent to Waukee City Hall, according to a lawsuit filed earlier this month in Dallas County District Court.

Bankers Trust Co. said in the suit that the Myerses and their partners owe nearly all of the principal on the loan, which was issued in December 2007. That was just months before the collapse of the Regency companies, which were co-founded by the Myerses’ father and fell under their control after his death in 2006.

The lawsuit names the Myers brothers, former Regency financial officer John Gamble, John Inman and Barbara Inman as defendants, along with Liberty Park Mall LLC, which was created to obtain the loan.

The individuals are named because they provided guarantees to secure the loan.

Bankers Trust is asking that NAI Ruhl & Ruhl Commercial Co. be appointed receiver of the property. According to the motion to appoint a receiver, none of the proceeds from the operation of the mall are being used to pay the loan, as required by a mortgage and another instrument issued to secure the loan.

A hearing is scheduled for Oct. 16 on the receivership motion.