NAMES IN THE NEWS : Friendly Loan Leads to Court
“Miami Vice” actor Don Johnson may turn to a bank next time he needs a loan. And a friend of his may be sure his next deal is done in writing.
Last year, Johnson’s company, DJ Racing, secured an interest-free $300,000 loan from Johnson’s friend, lawyer and real estate investor Martin Ergas. Ergas has sued for failure to repay the loan by November, but Johnson says the money to build a racing boat isn’t due to be paid back until 1995.
Donald M. Klein, attorney for Johnson and his company, said the lawsuit is “an effort to embarrass Mr. Johnson into settling. He does not do that as a general principle, and in this case he definitely doesn’t do it.”
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