A developer’s attempt to put the screws to a contractor in a pay dispute backfired when the Third District Court of Appeal ruled executives of Biltmore-Sevilla Debt Investors LLC could not use shell companies to purchase—then foreclose on—their own construction loan.
In 2006, the developer set out to build 25 luxury homes on three parcels in Coral Gables using several holding companies, including Riviera Biltmore LLC and Riviera Sevilla LLC.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
