MOUNT VERNON — A decision made earlier this year by Knox County Common Pleas Court Judge Otho Eyster was upheld recently by the Court of Appeals Fifth Appellate District. The case, Joseph Hollish vs. Jay Maners, is now heading to the Ohio Supreme Court.
In January, Eyster ruled in Hollish’s favor, stating Maners was obligated to pay him $72,049.61, plus interest from Dec. 2, 2003, in a breach of contract dispute between the two businessmen.
Hollish sold Taylor Rental to Maners back in 1995. Maners was required to make monthly payments to Hollish, who continued to hold a security interest in the assets of the business, including the equipment.
According to the appellate court’s decision, Hollish never filed the documents required “to secure his interest in the assets.” However, the three-judge panel stated the contract between Hollish and Maners did not require Hollish to file property-securing documents.
Maners later sold the business to Bobcat of Columbus. Bobcat made monthly payments to Hollish from May 2000 to December 2003. Bobcat filed for bankruptcy in 2004, listing both Hollish and Maners as creditors. Because there were no liens placed on the equipment and because “Hollish did not pursue any action within the bankruptcy proceeding,” Bobcat was able to secure the equipment as its own.
The decision also stated that there was no contract between Hollish, Maners and Bobcat.
