Archive for the ‘In the News’ Category

South Florida Business News: Week Ending February 13

February 13th, 2010

By Mark Schecter | No Comments »

City of Hallandale Beach Wins Breach of Contract Case

Arbitrator Lawrence Kellogg, Esq of the American Arbitration Association panel recently ruled that Reuter Recycling of Florida, Inc breached its contract with the City of Hallandale Beach by taking actions which destroyed the essence of the parties’ contract which originally provided that the waste stream generated by four cities would be composted by Reuter to accomplish waste reduction goals.

Damages of $525,000 were awarded to the City of Hallandale Beach. In addition, a counter claim against the City of Hallandale Beach for $2 million was involuntarily dismissed by the Arbitrators at the hearing.

The estimated cost savings to the City as a result of having the remaining term of the solid waste contract terminated is estimated to be more than $1 million.

Read more here

Lennar Homes files Breach of Contract Lawsuit Against Several

Lennar Homes, a Miami-based homebuilder, filed a breach of contract lawsuit against 5 drywall installers in Lee County, a couple of Chinese drywall manufacturers, and several other companies on January 30, 2010.

Lennar sued eight drywall suppliers for product liability and breach of implied warranty, as well as 12 installers for breach of contract and breach of express and implied warranty.

Contractors J.D.M. Builders, Florida Style Services, Ocean Construction, B&B Stucco and Harrell’s Drywall, whose primary place of business is in Lee County, according to the suit, were among about 20 companies being sued along with Taishan Gypsum Co. and Knauf Gips KG, a German company whose affiliate is Knauf Plasterboard Tianjin Co., a Chinese manufacturer, the suit said.

The lawsuit alleges the Chinese manufacturers were negligent and liable for damages because they produced drywall for a dozen or so homes in Lee County that may have been corroded by air conditioning coals, wiring and other copper fixtures.

Read more here

Whether you’re a company contemplating filing a breach of contract lawsuit against others or a contractor being sued, the lawyers of Schecter Law may be able to assist you. Contact our law office today to discuss your matter.

South Florida Business News: Week Ending February 6

February 6th, 2010

By Mark Schecter | No Comments »

We are kicking off a weekly “In the News” series in which we will provide you with a brief overview of some of the top on and offline stories affecting South Florida corporations and small businesses.

If there is a topic or story you’d like for us to discuss, please submit the story here.

Biscayne Bank Increases Loans by 13 Percent

Biscayne Bank, a Coconut Grove-based bank, has felt the pain of the current economic state for awhile now, and has endured its share of ups and downs. Some of the bank’s financial problems have been traced back to loans that are tied up in pending foreclosure lawsuits.

In June 2009, Biscayne Bank received more than $6 million in TARP funds. By the end of the year, the bank had increased its loans total from $152.2 million, at the time of receiving the funds, to $171.8 million thereafter. Approximately $280,000 of interest has been paid to the U.S. Treasury department on the TARP money.

The Chairman of Biscayne is hopeful that there will be improvements in the economy as well as the bank’s overall performance in the near future.

Dollar General Stores is Set to Expand

Dollar General Stores is one company that continues to perform very well in spite of the economical down turn. The company recently announced it plans to open 600 stores and create approximately 5,000 jobs throughout 2010. In 2009, the company hired 4,000 employees.

The growth that Dollar General continues to witness is due in large part to the fact that more Americans are becoming frugal and are looking for the most economical way to shop for their families.

According to South Florida Business Journal, Dollar General has more locations than any other retailer in America. In Florida alone there are nearly 450 stores. Current job seekers are excited about the opportunity to work with the company, and considers this a step in the right direction. Hopefully, other companies will follow suit.

Read more about all of these stories at South Florida business journal.