Trustees for the Hunt family trust denied a request from Albert Huddleston and his wife, Mary, to spend trust funds on a proposed oil refinery in Union County, S.D., a lawyer for one of the trustees said Tuesday.
The trustee, Miro Vranac Jr., thought it was a "dumb idea,'' to use the funds for such a speculative project, said Vranac's attorney, Bill Brewer of Dallas.
"Mr. Vranac's take on it was it was not the type of operation the trust should be investing in,'' Brewer said [Dave Dreeszen, "Lawsuit: Hyperion CEO, Wife Misused Trust Funds," Sioux City Journal, 2008.05.14].
I'd be curious to hear Vranac's opinion of using federal funds to guarantee loans for such a speculative project.
Unless I've missed something, still not a whisper of the story from the big South Dakota media, just the blogs.
Update 13:49 CDT: Gripe and ye shall receive: that Sioux Falls paper posts Dreeszen's report on the Huddleston lawsuit, as of 45 minutes ago.
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