A massive lawsuit filed in Nacogdoches involving family members who benefit from the multi-million dollar Hayter Trust has been settled.
Nacogdoches diners will remember the Hayter House, a restaurant that stayed open for only eight months in 2005. It opened and closed under the shadow of the disapproval of some family members. It's just one of several allegations of trust mismanagement made against several trustees, including Commercial Bank of Texas.
Fourteen lawyers were scheduled to go to trial on Tuesday. A temporary courtroom was even drawn to scale to assure all the attorneys had enough space for boxes and boxes of evidence. Ultimately, they reached a settlement.
Commercial Bank will resign as trustee. So will Charles Newall and Kelly Bell. Information on monetary settlements was not readily available.
A blueberry farm, thousands of acres of timber, oil and gas holdings, as well as the Hayter House, will remain in the security of a trust established by Sam Hayter about 80 years ago.