An Arizona real estate investor is made whole after a prior deal had devastated his relationship with a former business partner.
We found this investor while conducting research for one of our clients who was an associate to another party in a valuation lawsuit in a California court. The other party (whom we could not locate) had a history of partnering on profitable land and development deals with the investor.
We learned from the associated contact that the relationship between the investor and his partner had frayed and become contentious during the litigation. The investor decided to move out of a shared office space and eventually settled in Arizona where he immersed himself in other opportunities and deals.
We contacted the investor and informed him that he may be owed money from the property at the center of the California litigation. The investor decided to work with us to engage in more fact-finding.
Initial Finding:
Related party in a litigation proceeding
Further Findings:
Possible monies owed to our client from a judgement on the subject property
Challenges:
Legitimizing our client's interest in the legal entity after he and his partner split
Outcome:
Our legal collaborator teamed up with other counsel and determined that our client still had an interest in the investment entity and therefore was owed money from the settlement. She provided documentation to the government as requested and recovered his portion of the funds being held by the court.