Condo bulk sale in Palm Beach goes for $18M

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Condo bulk sale in Palm Beach goes for $18M

A large portion of the units in the Monteverde at Renaissance Commons condominium in Boynton Beach have sold in a bulk deal for $17.88 million. Of the 267 units in the building, at 1625 Renaissance Commons Blvd., 118 were owned by 1625 Monteverde LLC, an affiliate of New York-based Delma Properties.

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

Your Contingency Fee May Be at Risk if Your Client Files for Bankruptcy

Attorneys bringing personal injury and other suits on a contingency fee basis often face bankruptcy-related issues. A defendant may be insolvent, a bankruptcy trustee may assert an insurance policy is property of a bankruptcy estate, or a bankruptcy trustee may bring a competing claim against the same defendant, as just a few examples.

Posted in In the News, Solomon B. Gene - In the News

Hurricane Irma Drags Out Some South Florida Real Estate Deals

The sale of a Miami residential property was scheduled to close Sept. 8. The sale of a home in the exclusive Ocean Reef Club in Key Largo was to close Sept. 15. And the sale of Boynton Beach condominiums was to close Sept. 22.

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

Home Health Care Companies Protected by Noncompete Pacts

The referral sources for home health care companies can be protected by noncompete agreements because they qualify as a legitimate business interests under the state law on restrictive covenants in contracts, the Florida Supreme Court ruled.

Posted in Eric W. Ostroff, Eric W. Ostroff - Publications, Eric W.Ostroff - Media and Events, In the News

Federal Court To Decide Whether GE Capital Was Complicit In Ponzi Scheme

By December 8, 2000, GE Capital Corporation (GECC) had received nearly $50 million that it had loaned to Petters Capital, a company that specialized in buying bulk lots of merchandise from various retailers and then re-selling them to large, big box, distributors like Costco and Walmart.  

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

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

New Trends in the Miami Beach Luxury Market

To listen to real estate developer Todd Michael Glaser describe the Miami market, building modern luxury homes has never been more lucrative, and in demand — as long as those homes aren’t being built on the water.

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

Defend Trade Secrets Act: Lessons From Year 1

How the time flies: The Defend Trade Secrets Act, the culmination of a yearslong bipartisan effort to create a federal system of trade secrets law, was signed into law by President Barack Obama one year ago Thursday.

Posted in Eric W.Ostroff - Media and Events, In the News