Stewards says USD 20 million Hawthorne property deal faces dispute over USD 1 million deposit
Reuters2026/08/25 19:41- Stewards agreed to buy The Hawthorne property in Chatham, Massachusetts for USD 20 million cash, with a USD 1 million deposit in escrow.
- Seller issued an Aug. 18 default notice, citing a missed Aug. 10 closing date, seeking to keep the deposit as liquidated damages.
- Stewards disputes the default claim, instructed the escrow agent to hold the deposit, with recovery likely to hinge on court action.
- Transaction completion is uncertain, with potential liquidity impact if the deposit is impaired or written off.
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