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Tiara Condominium: The Final Chapter in the Economic Loss Rule in Florida?

In 1987, the Florida Supreme Court decided the seminal case of Florida Power & Light Co. v. Westinghouse Elec. Corp., 510 So. 2d 899 (Fla. 1987), which marked the beginning of what would become nearly three decades of the application of the "Economic Loss Rule" (or Economic Loss Doctrine)("ELR") in Florida to bar tort claims for "purely economic losses" that were not accompanied by personal injury or damage to other property. As the Court would later explain in Casa Clara Condominium Ass'n, Inc. v. Charley Toppino And Sons, Inc., 620 So. 2d 1244, 1246 (Fla. 1993), purely economic losses are "damages for inadequate value, costs of repair and replacement of the defective product, or consequent loss of profits -- without any claim of personal injury or damage to other property." While application of the rule in Westinghouse began in the context of products liability--to bar FPL's claims in negligence for defective steam generators designed, manufactured and furnished by Westinghouse--the Court quickly expanded its use to services in the case of AFM Corp. v. Southern Bell Telephone & Telegraph Co., 515 So. 2d 180 (Fla. 1987)--to deny recovery in negligence for what amounted to a breach of contact by Southern Bell which used an incorrect phone number in an advertisement for AFM causing only economic damages.

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Categories: LitigationCondominium AssociationsHomeowners' AssociationsConstruction Law
Tags: Condos and HOAsFlorida Supreme CourtGary L. BrownJamie A. ColeEdward G. GuedesJoshua D. KrutMichael S. PopokJoseph H. SerotaDamagesFort Lauderdale Business Litigation AttorneysFort Lauderdale Business Litigation LawyersMiami Commercial Litigation AttorneyMiami Commercial Litigation LawyerSouth Florida Commercial Litigation AttorneySouth Florida Commercial Litigation LawyerFort Lauderdale Condominium Association AttorneysMiami Condominium Association AttorneysSouth Florida Condominium Association AttorneysSouth Florida Business Dispute Litigation AttorneysSouth Florida Business Dispute Litigation LawyersMatthew H. MandelFort Lauderdale Homeowners' Association AttorneysMiami Homeowners' Association AttorneysSouth Florida Homeowners' Association AttorneysFort Lauderdale LitigatorsMiami LitigatorsSouth Florida LitigatorsEleventh Circuit Court of AppealsFlorida Commercial Litigation LawyerFlorida Condo Association LawFlorida Litigation AttorneysFort Lauderdale Civil Litigation AttorneysFort Lauderdale Commercial Litigation AttorneysFort Lauderdale Commercial Litigation AttorneysFort Lauderdale Construction LawyerMiami Construction LawyerMiami Commercial Litigation AttorneyMiami Litigation Attorney
Author(s): Gary L. Brown

Gibraltar Bank Reaches Settlement with Investors in Scott Rothstein's Scheme

On February 28, a group of Scott Rothstein's money-losing investors settled a dispute with Gibraltar Bank & Trust for $10 million in cash and an additional share in bad faith insurance claims.  By settling the dispute out of court, the parties will avoid a trial in a highly publicized case; the investors originally sought $186 million in compensatory damages.  WSH Member Michael S. Popok represented former Gibraltar officer John Harris in the dispute. 

In addition to the Gibraltar settlement, investors also settled with TD Bank for $190 million, and Platinum Advisors for another $10 million.

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Categories: LitigationClass ActionsTorts
Tags: Jamie A. ColeEdward G. GuedesMichael S. PopokJoseph H. SerotaDamagesFort Lauderdale Business Litigation AttorneysFort Lauderdale Business Litigation LawyersSouth Florida Business Dispute Litigation AttorneysSouth Florida Business Dispute Litigation LawyersSouth Florida Private Transactions AttorneysSouth Florida Private Transactions LawyersMatthew H. MandelFort Lauderdale LitigatorsMiami LitigatorsSouth Florida LitigatorsAlternative Dispute ResolutionFlorida Litigation AttorneysFort Lauderdale Civil Litigation AttorneysFort Lauderdale Commercial Litigation AttorneysFort Lauderdale Commercial Litigation AttorneysMiami Commercial Litigation AttorneyMiami Litigation Attorney
Author(s): Brooke P. Dolara

Government Officials Reach $26 Billion Settlement with Major Banks to Bring Relief to Homeowners

Federal and state officials have reached a $26 billion foreclosure settlement with Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial, five of the nation’s largest banks. The settlement is the largest deal reached to alleviate the damage caused by the housing market crash, and could provide relief to nearly two million current and former homeowners affected by the crash.

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Categories: LitigationClass ActionsAlternative Dispute Resolution
Tags: CollectionsChapter 7 BankruptcyChapter 11 BankruptcyJamie A. ColeEdward G. GuedesMichael S. PopokJoseph H. SerotaDamagesFort Lauderdale Business Litigation AttorneysFort Lauderdale Business Litigation LawyersMiami Commercial Litigation AttorneyMiami Commercial Litigation LawyerSouth Florida Commercial Litigation AttorneySouth Florida Commercial Litigation LawyerSouth Florida Business Dispute Litigation AttorneysSouth Florida Business Dispute Litigation LawyersSouth Florida Private Transactions AttorneysSouth Florida Private Transactions LawyersFort Lauderdale Private Transactions AttorneysMiami Private Transactions AttorneysMatthew H. MandelFort Lauderdale Real Estate AttorneysMiami Real Estate AttorneysSouth Florida Real Estate AttorneysFort Lauderdale LitigatorsMiami LitigatorsSouth Florida LitigatorsAlternative Dispute Resolution
Author(s): Brooke P. Dolara

Eminent Domain Valuation in a Falling Market Poses Questions for Condemning Authorities

In 2006, a condemning authority notifies the public that it intends on widening Congestion Drive, and that it will need to acquire 10 feet of right of way on the North side of the road. The project does not go forward until 2009, in the meantime those property owners on the North side of Congestion have had a cloud placed over there property for 3 years.

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Categories: Eminent Domain
Tags: Mitchell J. BurnsteinPeter D. WaldmanDamagesSouth Florida Public Transactions LawFort Lauderdale Public Transactions LawMiami Public Transactions Law Fort Lauderdale Eminent Domain AttorneysMiami Eminent Domain AttorneysSourth Florida Eminent Domain AttorneysScope of the Project Rule
Author(s): Peter D. Waldman

Third DCA Holds Attorneys' Fees Can Be Included In Set-Off Where They Are Provided For In Contract

Last week, the Third District Court of Appeal held that a contractor may not be entitled to summary judgment in an amount equal to the claimed contract balance less the owner's claimed set-off where the contract at issue provided for both (1) prevailing party attorney's fees and (2) that the owner could withhold payment for damages incurred. The Third District found that attorney's fees were damages under the contract, were properly pled and, therefore, must have been considered as part of the owner's set-off.

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Categories: LitigationCivil ProcedureContracts
Tags: Jamie A. ColeEdward G. GuedesMichael S. PopokJoseph H. SerotaDamagesAttorneys' FeesSet-OffFort Lauderdale Business Litigation AttorneysFort Lauderdale Business Litigation LawyersMiami Commercial Litigation AttorneyMiami Commercial Litigation LawyerSouth Florida Commercial Litigation AttorneySouth Florida Commercial Litigation LawyerFort Lauderdale Condominium Association AttorneysMiami Condominium Association AttorneysSouth Florida Condominium Association AttorneysSouth Florida Private Transactions AttorneysSouth Florida Private Transactions LawyersMatthew H. Mandel
Author(s): Samuel I. Zeskind