Billionaire, fund manager buy Coconut Grove properties out of bankruptcy

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Billionaire, fund manager buy Coconut Grove properties out of bankruptcy

A company managed by billionaire insurance magnate William R. Berkley and equity fund manager Bruce Berkowitz acquired a collection of properties in Miami’s Coconut Grove at bankruptcy auction for $5.4 million.

Posted in Daniel N. Gonzalez - In the news, In the News, Peter D. Russin - In the news

The buyers of six key lots in West Grove aren’t so mysterious after all

The “mystery” buyers who won six sought after West Coconut Grove lots in U.S. bankruptcy court are not so mysterious after all: They are well known Miami financial figures Bruce Berkowitz and Bill Mahone.

Posted in Daniel N. Gonzalez - In the news, In the News, Peter D. Russin - In the news

Bruce Berkowitz and billionaire W.R. Berkley buy Coconut Grove site

A company led by billionaire William Berkley and Bruce Berkowitz of Fairholme Holdings just picked up pieces of an assemblage in west Coconut Grove.

Posted in Daniel N. Gonzalez - In the news, In the News, Peter D. Russin - In the news

Revealed: Buyers of 6 Coconut Grove Properties in Bankruptcy Sale

The $5.4 million purchase of six lots along Miami’s Grand Avenue is the latest development for a storied stretch that’s been mired in lawsuits, including a bankruptcy filing, and is home to dilapidated buildings and vacant parcels.

Posted in Daniel N. Gonzalez - In the news, In the News, Peter D. Russin - In the news

Lawsuit Against GE Finance Unit Over Petters’ Fraud Heads to Trial

In a 34-page ruling, Judge Paul Hyman refused to dismiss a federal lawsuit that accused the General Electric unit of conspiring to commit fraud by keeping quiet in 2000 when its employees allegedly discovered that Mr. Petters was operating a Ponzi scheme. The dispute will head to a jury in a trial that has yet to be scheduled.

Posted in In the News, Michael S. Budwick - In the News

Judge Won’t Toss Suit Against GE Capital Over $3.6B Scheme

A Florida bankruptcy judge on Thursday denied General Electric Capital Corp.’s bid to escape a suit alleging it participated in the $3.6 billion Ponzi scheme orchestrated by Tom Petters, paving the way for the claims to go to a jury.

Posted in In the News, Michael S. Budwick - In the News, Solomon B. Gene - In the News

Lawsuit Against GE Finance Unit Over Petters’ Fraud Heads to Trial

A lawsuit against General Electric Co.’s finance unit over its relationship with convicted businessman Thomas Petters, whose $40 billion empire collapsed in 2008, will move to trial as a result of a bankruptcy judge’s ruling on Thursday.

Posted in In the News, Michael S. Budwick - In the News

Meland Russin & Budwick Embraces New Digital Practices to Provide Increased Value to Clients

As part of its commitment to provide maximum value to clients, Meland Russin & Budwick today announced the firm’s deployment of new digital practices and ongoing advanced digital training. The firm is embracing innovative technologies to support its litigation efforts, thereby offering more effective and efficient legal services for clients.

Posted in Annoucements

Peter D. Russin Accepts Panel Invitation from the American Bankruptcy Institute

Peter D. Russin recently accepted an invitation from the American Bankruptcy Institute to participate on a panel at its annual Spring Meeting in Washington, DC, on the impact of using the IRS as a “triggering creditor” under 11 USC 544(b)

Posted in Uncategorized

He Wanted a Postcard View of Downtown Miami — and Paid $10 million for it

The buyer was looking for a postcard view of downtown Miami. He got just what he wanted — for a cool $10 million.

Posted in In the News, Mark S. Meland - In the News