Partner Juan Torres Prevails in Bankruptcy Proceeding04.12.2010
Litigation partner Juan Torres represented the Trustee in a Chapter 7 bankruptcy proceeding as the Plaintiff in an extremely complex and hard fought breach of contract and fraud lawsuit. The lawsuit involved the Debtor’s sale in 2005 of the stock of a company the only asset of which was an unfinished apartment building that the buyer completed constructing after the sale. The buyer supposedly spent about $300,000 to complete the construction. The buyer also paid off a $780,000 loan that the Debtor obtained to construct the building. On the day after the final agreement for the Debtor’s sale of the stock was signed, the buyer placed a stop payment on a check he used to supposedly pay for the stock. Mr. Torres prepared and filed the complaint in 2006.
In 2008, Mr. Torres prevailed with a motion for summary judgment on the breach of contract portion of the lawsuit which resulted in the court issuing an order directing the buyer to turn over possession of the building to our client. Last year, the trial occurred on the fraud portion of the case. Mr. Torres completed the trial last December and the court issued its verdict April 8, 2010 completely in our client’s favor. The court awarded our client $500,000 in punitive damages as well as attorney’s fees. Moreover, the court declared that the buyer was not entitled to be reimbursed any of his costs to complete the building and the funds he used to pay off the $780,000 loan.