Idaho Club sued again

| January 29, 2011 6:00 AM

SANDPOINT — Another lender is moving to foreclose on the troubled Idaho Club.

Pacific Capital Bank filed suit against Pend Oreille Bonner Development for defaulting on a $5 million revolving term note, according to a documents filed in 1st District Court on Friday.

The Santa Barbara Calif.-based banking institution seeks a principal sum of $4.6 million and more than $500,000 in interest, the suit said.

There are 26 other defendants identified in the suit. The other defendants include several banks, investors, contractors and various individuals, many of whom are plaintiffs in their own suits against developers of the luxury golf resort and community.

Last fall, Sage Holdings, a trio of local investors, sued Pend Oreille Bonner Development for allegedly defaulting on a $3 million loan. Mountain West Bank commenced foreclosure proceedings against the developers last August for allegedly defaulting on a $3.6 million loan.