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.
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.
A company led by billionaire William Berkley and Bruce Berkowitz of Fairholme Holdings just picked up pieces of an assemblage in west Coconut Grove.
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.
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.
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.
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.
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.
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)…
The buyer was looking for a postcard view of downtown Miami. He got just what he wanted — for a cool $10 million.