Appeals Court at Ball State
Today the Indiana Court of Appeals will hear Stephen C. Hilbert et al vs. Conseco Services, LLC in Pruis Hall at Ball State University.
Conseco Services, LLC, brought an action against Stephen Hilbert, individually and as the trustee of a number of Hilbert trusts, seeking repayment of money paid on behalf of him and them as interest on their purchase of more than $162 million in Conseco, Inc. stock from 1996 through 1999. The lawsuit alleged that not only had the trusts and Hilbert breached the agreements to repay this money but also that this breach was a default of the mortgage on Hilbert’s mansion in Carmel – thereby warranting an order of foreclosure. The trial court’s order granted Conseco Services (1) a judgment against the trusts in the amount of $65, 712, 557. 85 plus interest, (2) a judgment in that amount against Hilbert personally, and (3) a decree of foreclosure on the mansion. Hilbert appeals the order, arguing that , for various reasons, he and the trusts should not have to repay this money and that, therefore, the decree of foreclosure is erroneous.
