Developer May Have Bilked $10M From Partners: Judge

Law360, New York (July 19, 2010, 1:26 PM EDT) -- A federal judge has ruled that the president of Thomas Enterprises Inc., which has developed $4 billion in retail property since 1987, could owe more than $10 million to three partners in a Sacramento, Calif., real estate project for breaching a contract related to the development.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York granted the three partners' motion for partial summary judgment Thursday, holding Stanley E. Thomas liable for breach of contract and guarantee. But she left...
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