Tag: Dean Vlahos

Signature Bank sues owner of Redstone Dean Vlahos over unpaid loans

February 19th, 2009

The Star Tribune is reporting that Signature Bank of Minnetonka has filed two lawsuits against Redstone owner Dean Vlahos for defaulting on repayments toward $5.5 million.

Vlahos and his estranged wife, Michelle, are in hot water for not performing on a number of notes they have signed. Additionally, Home Federal Savings Bank of Rochester moved to foreclose on Vlahos’ Deephaven lakeshore home last month.

Much of this, according to Vlahos, is due to the Tom Petters ponzi scheme fraud, in which Vlahos claims that Petters owes him $16 million.

All of this has a Wayzata connection in that Vlahos is one of the owners of the Superior Stop, the property that the City is in negotiations to purchase for the Wayzata Bay Center redevelopment. Additionally, Redstone’s coroporate office is in the Wayzata Boat Works building, and was alive with people and chefs the other day as I wondered in to check out the vintage boat that is on display in the lobby of the building.

For the full article from the Star Tribune, follow this link: Redstone owner sued over unpaid bank loans.
STAR TRIBUNE: Petters owes Vlahos $16 Million

January 27th, 2009

The Star Tribune has a story today indicating that Dean Vlahos and his wife Michelle claim that Tom Petters owes them $16,000,000. Additionally, the article reports the financial troubles the situation is causing for the owner of Redstone American Grill.

According to the article, a bank that loaned Vlahos millions of dollars has moved to foreclose on his Lake Minnetonka mansion in Deephaven. Vlahos has the home for sale $10.9 million, and there are $11.5 million worth of mortgages against the property. Vlahos is also trying to sell two homes in Florida for over $30 million.

Dean made his money with Champps Americna sports bar and grill by franchising and going public last decade, eventually selling all his holdings. He had hoped to do same with Redstone American Grill by turning it into a national chain. That seems less likely with the setbacks personally with regards to the Petters case and with the economy faltering.

Read the Star Tribune’s article: Vlahos: Petters owes us $16 million

Image courtesy of Janette Novak of Minneapolis St. Paul Magazine’s: Leaving a Legacy, which contains photos from the John T. Petters Legacy Foundation Gala that are available for sale.

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Dean Vlahos, Craig Oberlander talk "friendly" with City of Wayzata about Superior Stop

October 29th, 2008

The Lakeshore Weekly News is reporting that the registered owners of the Superior Stop are Dean Vlahos and Craig Oberlander; and that the holding company — Wayzata Circle LLC is having freindly talks with the City of Wayzata about 800 Superior aka the Superior Stop gas station on the west edge of the Wayzata Bay Center.

According to the article, the City of Wayzata is planning on using condemnation to force the sale of the property so that Presbyterian Homes can proceed with it’s Wayzata Bay Center redevelopment plans.

In an interesting twist, the article indicates that Vlahos said that Tom Petters had been involved in the ownership, but had resigned his shares in Wayzata Circle LLC since he was arrested in early October on federal fraud charges.

From the Weekly News: “My plan’s always been to do a restaurant,” Vlahos said.
Wayzata.com reported several weeks ago that the Wayzata City Council had held a closed session meeting about the Superior Stop. Al Orson, Wayzata City Manager stated in the local newspaper “The [redevelopment agreement] is set up on the basis that the city will use condemnation to acquire the gas station.”

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It seems likely that litigation will be involved if there is not an agreement between the City and Wayzata Circle. Neither side is commenting on legal action at this time.

Stay tuned to Wayzata.com, your Superior Stop is the fly in the ointment but wants to build a restaurant leader.

Read the full Weekly News article here: Watch for more Bay Center choices.

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Dean Vlahos asserts Redstone American Grill not involved with Petters

October 15th, 2008

The Minneapolis St. Paul Business Journal has a new article about local restaurant legend Dean Vlahos, and his assertion that Redstone American Grill is not linked to Tom Petters. The article goes on to detail that the two were very close, and that Vlahos invested $18 Million with Petters–but never got the princpal back.

For the full article, visit this link: Dean Vlahos: Redstone American Grill not linked to Petters debt

Vlahos is also rumored to be part of the ownership of the Superior Stop at 800 Superior Street in Wayzata, the last remaining piece of the puzzle for the Wayzata Bay Center’s development and corresponding realignment of Superior St.

Wayzata.com is your Wayzata Restaurant Vlahos leader.

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Tag: Dean Vlahos

Signature Bank sues owner of Redstone Dean Vlahos over unpaid loans

STAR TRIBUNE: Petters owes Vlahos $16 Million

Dean Vlahos, Craig Oberlander talk "friendly" with City of Wayzata about Superior Stop

Dean Vlahos asserts Redstone American Grill not involved with Petters