North Carillon Beach condo association files motion to re-open bankruptcy case (FL)
Litigation surrounding the Carillon Miami Beach just got much more heated. The North Carillon Beach Condominium Association filed a motion in federal bankruptcy court in New York on Thursday seeking to reopen a Chapter 11 case, as a step toward suing the building’s owner, Z Capital Partners, for alleged fraud and mismanagement. The motion seeks unspecified damages for Z Capital’s alleged unlawful exploitation of the association and unit owners. It alleges that Z Capital fraudulently induced the association and unit owners to support its purchase of the oceanfront complex so it could gain control of the property and use its experience in asset stripping, cost cutting and restructuring for its own benefit. Read the article…………..