National homebuilder to pay Miami-Dade condo association $11M in settlement

National homebuilder D.R. Horton agreed to pay a bankrupt Miami Gardens condominium association $11 million to settle litigation after the judge previously found the developer engaged in “deceptive practices.”  The settlement between Fort Worth, Texas-based D.R. Horton (NYSE: DHI) and the Majorca Isles Master Association was approved in U.S. Bankruptcy Court in Miami on July 7. The funds from the settlement paves the way for a 100 percent distribution to all creditors, with interest, and several millions of dollars to fund rehabilitation of the association’s community, said attorney Glenn D. Moses of Genovese Joblove & Battista, which represented Chapter 11 trustee Barry Mukamal in the case.    Read the article…………………….

Related Articles

Local flag fight gets national attention (FL)

Despite Mr. Murphree’s claims to the contrary, the Tides Condominium Association is not pursuing legal action against him for his

City Council finalizes ordinance to legalize Airbnb style rentals here (OR)

Portland city commissioners informally agreed Wednesday to legalize Airbnb-style short-term rentals in single-family homes, if the host pays a $180

Flood spawns lawsuits against dam owners, insurance companies, SCE&G and Lexington County (SC)

Four civil lawsuits were filed Thursday morning in Richland County’s state court alleging that negligence by organizations that controlled dams