Lawsuit on the links
<p>In this September 6, 2013 Press file photo, Club members walk to the 14th hole at the Black Rock golf course.</p>
<p>In this November 3, 2010 Press file photo, Rich Adams, greenskeeper, cuts the grass near a bunker on hole 17 while doing off-season maintenance at the Gold Club at Black Rock.</p>
COEUR d'ALENE - Former luxury golf Club at Black Rock members are suing for millions in membership deposits they feel should have been refunded when the club closed in 2010.
The members have an ongoing class-action lawsuit against Washington Trust Bank for approximately $29 million. A jury trial in front of U.S. Magistrate Judge Ronald Bush is scheduled for Oct. 2 in Coeur d'Alene in U.S. District Court.
Adam H. Springel of Las Vegas, lead attorney for the former members, declined on Thursday to comment on the case. A representative for the bank couldn't immediately be reached for comment.
According to court documents, the question a jury will answer is whether the bank took responsibility for the members' deposit funds when it became the owner of the club. There were approximately 300 members.
Along with the estimated $29 million in deposits, the plaintiffs believe they are due interest of 12 percent since 2010, totaling approximately $15 million. They also want punitive damages.
Those who wanted to be part of the club overlooking Lake Coeur d'Alene bought property surrounding the golf course and paid a "membership deposit," which ranged from tens of thousands of dollars to $125,000. The price increased over time.
Washington Trust Bank purchased the club, which was developed by Marshall Chesrown, after it fell into financial distress.
Black Rock is approximately 20 minutes south of Coeur d'Alene traveling on U.S. 95 and Rockford Bay Road on the west side of the lake.
The bank sold the club to a small group of investors, which has been operating it under the slightly different name of The Golf Club at Black Rock. The group collected new membership deposits.