News
Gary M. Stein & K. Stefan Chin Authored an Amicus Brief
Published Date: October 28, 2016
Gary M. Stein and K. Stefan Chin authored an amicus curiae brief on behalf of the South Florida Associated General Contractors and in support of the appellant, CDC Builders, Inc., in a significant case involving the construction and development of luxury homes and townhomes on certain property in Coral Gables, Florida. The Third District Court of Appeal recently issued its opinion reversing summary final judgment in favor of Biltmore-Sevilla Debt Investors, LLC, an entity created and controlled by the owner/developer, and against CDC Builders, Inc., the contractor. The opinion stands for the proposition that an owner cannot form a new entity to completely pay off and purchase a construction loan, take an assignment of the original mortgage without satisfying the mortgage, and then foreclose the mortgage to wipe out the contractor’s statutory construction lien.