A partnership that includes former Mayor Henry Cisneros has been sued to stop sale of controlling interest in entity that manages LIV at Westover Hills.
“Loss of the entire investment, triggering of personal guarantees and other damages would result,” Miramontes warned in a court affidavit attached to Mission DG’s opposition to the temporary restraining order. Wibracht, who went bankrupt in 2017, would never qualify as managing member, Miramontes added.“It’d be in the best interest of everyone, even including Mr. Wibracht, if the sale went through,” said, a lawyer representing Mission DG.
Mission DG first listed it for sale in June. Any proposed buyer would have to “go through numerous steps and approvals due to the structure of this project,” Miramontes said. That would include qualifying with its lender and obtaining approvals from the Housing Trust and theA major investor in the project also would need to sign off on any changes.
Wibracht alleges Mission DG gave “inadequate notice” of Eenhoorn’s offer to those who hold an interest in Westover SLP. The insurer had sued Wibracht and others in 2020 in San Antonio federal court, but it doesn’t appear Wibracht ever made his own claims against the company in the case. Travelers dropped its claims against him in November.
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