Thank You Merco Group

Boy, according to this DBR story, troubled developer Merco Group is keeping a lot of local attorneys employed, including Miami litigator Moises T. Grayson. Moises filed a foreclosure action against Merco relating to a West Palm Beach condo project, Palladio Terrace, that has not gotten off the ground. The case is before Judge Colbath.

In addition, the DBR reports:

Merco also ran into trouble at its Deauville condo-hotel in Miami Beach. The company has agreed to settle a class action lawsuit by allowing about 90 contract holders to buy at prices set in their contracts in 2004 and 2005. Merco tried to return deposits and call off sales.

Merco is awaiting an appeals court decision on its proposed Brisas Del Rio condo project on the Miami River in Miami, but the 3rd District Court of Appeal found flaws with city approval of two other condo projects on the river.

With Eastern Financial as a client, Blaxberg Grayson should be very busy chasing foreclosures and dealing with the mortgage fallout for the next few years.