Miami Condotel Ex-Owners Sued Over Unpaid Rental Revenue

Law360, Miami (January 31, 2014, 5:42 PM EST) -- Forty unit owners at five-star Miami hotel and condominium development One Bal Harbour sued the former owners Thursday on claims the former owners failed to pay them their share of nearly $5 million in revenue from rentals of their units.

The suit, filed in Florida state court following the Jan. 24 confirmation of a Chapter 11 plan for the property, brings claims of gross negligence and breach of fiduciary duty, among others, against Thomas Sullivan and Jorge Arevalo, principals of the One Bal Harbour hotel's former...
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