Condo

Washington Court Probes Reasons to Overturn $19 Million Skanska Building Verdict Amid Condo Dispute

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Washington, D.C. — A Washington appeals court is currently examining a $19 million trial verdict awarded to Skanska USA Building Inc. regarding a condominium project. In recent deliberations, a judge raised questions on whether the substantial judgment, which favored the globally recognized construction firm, should indeed be overturned. During Thursday’s session, the focus revolved primarily around the validity and proceedings of the initial trial. The judge probing the case pressed on the thoroughness with which the original facts were established and the rationale behind the jury’s hefty financial award. Skanska USA Building Inc., part of … Read more

Florida’s Latest Inspection Mandates Stir Chaos Among Condo Owners

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Tallahassee, FL — A new safety inspection law in Florida is sending shockwaves across condominium communities, signaling potential financial burdens for homeowners. Enacted in response to the tragic collapse of the Champlain Towers South in Surfside in June 2021, which claimed 98 lives, the legislation imposes stringent safety inspection regulations on aging condo buildings, drastically altering the landscape for condo owners and associations throughout the state. The new legislation, which took effect in May 2021, requires that all condominiums three stories or higher undergo a “milestone inspection” when they turn 30 years old, or 25 … Read more

$4.5 Million Victory: Collo Brothers Triumph in High-Stakes Shareholder Showdown Over Fort Lauderdale Condo Project Losses

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FORT LAUDERDALE, Fla. — A state court has ruled in favor of two shareholders in a dispute against a Panamanian company, Costa Six S.A., and four of its shareholders, culminating in a $4.5 million judgment. The ruling, issued this week by Broward Circuit Judge Michael Robinson, resolves a contentious monetary conflict surrounding the Adagio Fort Lauderdale Beach project, a condominium located on the Intracoastal Waterway. The plaintiffs, brothers Leonardo and Luis Collo, who each own a 12.5% stake in the company, initiated the lawsuit to secure their financial interests, alleging that their rights as shareholders … Read more

Dozens of Condo Buyers Appeal to Court After Losing Millions in Failed Miami Beach Development

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Miami Beach, Fla. – In the opulent world of Miami Beach real estate, dozens of condo buyers are fighting to recover millions of dollars lost in a failed luxury condo project, leading them to seek legal redress. The troubled development at the heart of the dispute, once a promising venture, has turned into a financial nightmare for investors who believed in the vision presented by developer Robert Kapoor. Kapoor’s ambitious project promised to deliver a beachfront paradise to its prospective homeowners, featuring modern amenities and stunning ocean views. However, amidst escalating costs and alleged mismanagement, … Read more