Clarification:
This article incorrectly reported that Miami attorney Jorge Perez was removed as receiver. In accordance with a U.S. Bankruptcy Court order, he voluntarily turned over the estate’s assets to a bankruptcy chief restructuring officer. The story has been changed to reflect these changes.
Bal Harbour’s most financially embattled mixed-use tower project appears closer to exiting its latest bankruptcy drama, as a lawyer who shepherded the building through a part of recent receivership has agreed to slash legal fees by a third.
Attorney Jorge J. Perez and his team from the Miami office of McDonald Hopkins had previously sought $2.8 million for their work managing the condo-hotel venture One Bal Harbour. Perez was appointed receiver by a Miami-Dade circuit judge in 2011 after the project’s then-owner, Elcom Hotel & Spa, was accused of fraud and mismanagement in state court.
After the venture filed for chapter 11 bankruptcy protection in January 2013, a Miami bankruptcy judge ordered the turn over of assets to a restructuring officer. At the court’s direction, Perez turned over the assets.
