Stearns claims Duluth developer defaulted on $5.4M loan

Incline Development, run by Lazar "Luzy" Ostreicher, had filed a lawsuit claiming Stearns Bank did not file a crucial document that cost it the financing for a huge Duluth project on the site of the old Central High School. Stearns on Tuesday filed a response saying it had not guaranteed it would file the document, and separately Incline had defaulted on a $5.4 million loan.