Bakery Chain Owners Ordered To Pay $30M For Default

Law360, Miami (May 9, 2013, 10:44 PM EDT) -- A Florida state court has ordered family members behind the state's Don Pan bakery chain to pay more than $30 million for breaching loan guarantees for two Orlando real estate developments, slamming the father and son for their inaction despite their knowledge of impropriety by the project manager.

Judge Jennifer D. Bailey on May 2 ruled in favor of Poker Run Acquisitions Inc., which sued Alvaro Gorrin Ramos and Alvaro Gorrin Jr., over guarantees stemming from a $56 million loan package the pair received in 2005...
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