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Golden Corral owners countersue Adirondack Trust

Golden Corral owners countersue Adirondack Trust
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SARATOGA SPRINGS - The Patel family that owns several Golden Corral restaurants and the Comfort Inn & Suites in Saratoga Springs are turning the tables on their bank, which had sued the Patels for allegedly misusing federal pandemic relief loan funds.
Adirondack Trust Co. of Saratoga Springs sued clients Niral and Nirmala Patel back in October, alleging that the pair had misappropriated nearly $2 million in loans their businesses received from the Paycheck Protection Program, part of the federal government s COVID-19 stimulus program.
The suit, filed in state Supreme Court in Albany County, alleged that the Patels (Nirmala is the mother of Niral) used the PPP loan proceeds to pay personal expenses. The loans were designed by Congress to be used by businesses to keep employees on their payroll during government-mandated lockdowns and a loss of business due to the pandemic. ....

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Golden Corral franchisee files $10M+ counterclaim over Adirondack Trust Co. PPP lawsuit

Golden Corral franchisee files $10M+ counterclaim over Adirondack Trust Co. PPP lawsuit | The Daily Gazette
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BALLSTON SPA A local family has filed a counterclaim against the Saratoga Springs bank that alleges they misused a small-business bailout loan provided to weather the COVID-19 crisis.
Adirondack Trust Company sued Nirmala A. Patel and her son Niral A. Patel in October to recover $1,979,600 in federal Payroll Protection Program funds disbursed to 10 of their corporate entities. They operate the Saratoga Springs Comfort Inn and Suites and, as franchisees, eight Golden Corral restaurants in New York and New Jersey, including those in Colonie, Queensbury and Wilton. ....

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