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

Blog Archives

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

Trump wants tax reform. Could it hurt South Florida real estate?

The tax reform proposal unveiled this week in Washington calls for capping the interest expense deduction for residential mortgages at $500,000 rather than the current $1 million. Deductions would be allowed only for primary residences. How could that affect South Florida’s real estate market, one of the region’s biggest employers?

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

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