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MINNEAPOLIMEDIA NEWS | Saint Paul's HmongTown Marketplace Faces Foreclosure as $6.6 Million Lawsuit Threatens VendorsSAINT PAUL, MN (October 8, 2026).HmongTown Marketplace, one of Saint Paul's most recognizable Hmong commercial and cultural institutions, is facing possible foreclosure after a lender filed a lawsuit seeking approximately $6.6 million in unpaid loans, interest and fees. The lawsuit has created uncertainty for the merchants whose businesses operate inside the marketplace at 217 Como Ave., where generations of Minnesota families have shopped for traditional foods, clothing, medicine, books and other products associated with Hmong culture. Stearns Bank filed the foreclosure action in September against marketplace founder Toua Xiong, his wife Nou Vang and associated businesses. The dispute involves financing connected to both HmongTown Marketplace and a former Sears property in Maplewood that Xiong had hoped to redevelop as a second commercial destination. The bank alleges the loans went into default during 2025. It has asked the court to appoint a receiver who could assume significant control over the property, including collecting rents and managing operations.