NEWTON, N.C. — A $2.5 million bond has been set for Willard Gary Black, the co-owner of Old Hickory Tannery, who is charged in the fatal shooting of his business partner, 59-year-old Robert Arguelles.

The bond hearing comes as newly released court records reveal a business dispute between the two co-owners was still being fought in court on the same day Arguelles was killed.

The 85-year-old Black is accused of killing his business partner on Wednesday, June 17, at the Old Hickory Tannery furniture company after he was ordered to pay the victim more than $310,000 in a court settlement involving Arguelles and RRA Solutions, a consulting firm owned by Arguelles.

Fours hours later, Black allegedly shot Arguelles four times in the back and chest. First responders were unable to save his life. Numerous outlets reported that Black told police officers who arrived on the scene that he had shot Arguelles.

Old Hickory Tannery is a luxury, family-owned furniture manufacturer based in Hickory, North Carolina. The brand is renowned for handcrafted, heirloom-quality upholstered furniture, featuring rich leathers, custom wood framing, and intricate detailing.