Arango Wins $481K Verdict in Urbanac Contract Dispute
Table of Contents
Case Background
Yezid Arango filed a breach of contract lawsuit against Carlos Cifuentes and Urbanac Construction LLC SAS in the Circuit Court of the Seventeenth Judicial Circuit in Broward County, Florida. The case centered on a failed housing development project in Colombia and money Arango loaned to the Defendants that was never repaid.
Cause
On November 13, 2020, Arango entered into a promissory note agreement with Cifuentes and Urbanac Construction LLC SAS, a Colombian company. Under the terms of the note, Arango agreed to lend one million dollars with interest payable at 0.75 percent monthly, calculated in advance. The loan was intended to finance a housing project in Colombia.
The promissory note specified that the Defendants would repay the loan in consecutive monthly installments of $50,000 each, beginning when Colombian banks approved construction financing for the project. The note set a final payment deadline of December 10, 2021, with any remaining balance due at that time.
Between March 2020 and March 2022, Arango transferred funds to the Defendants in multiple installments. The payments came in both U.S. dollars and Colombian pesos, totaling $364,271.44 when converted to U.S. currency. The disbursements included transfers via wire services, direct deposits to Urbanac's U.S. bank account, and deposits into Colombian bank accounts.
On May 2, 2022, Cifuentes and Arango signed a subsequent agreement acknowledging that Cifuentes received additional funds and owed 50,000,000 Colombian pesos (equivalent to $13,354 U.S. dollars) back to Arango by November 2021.
The housing project encountered problems when the Defendants failed to apply for construction financing in a timely manner and did not make prompt payment to the owner of the land intended for development. On January 18, 2022, the property owner refused to sell the land to the Defendants, causing the entire housing project to collapse.
Despite the project's failure and multiple payment deadlines passing, the Defendants made no payments toward either the principal amount or the accrued interest on the promissory note.
Injury
Arango suffered purely financial harm from the Defendants' failure to honor their obligations under the promissory note. He lost access to the substantial funds he loaned for the housing project and received no return on his investment despite the agreed-upon interest terms.
According to the complaint, Cifuentes knew the housing project failed on January 18, 2023, but withheld this information from investors. Despite knowing the project collapsed, Cifuentes requested additional money from Arango for the project, demonstrating what the Plaintiff characterized as bad faith dealings.
Damages Sought
Arango initially filed his complaint on April 4, 2024, seeking damages exceeding $30,000. The complaint alleged the Defendants owed him the principal balance of $364,271.44, plus accrued interest since November 1, 2021, when the first installment payment came due under the promissory note.
The lawsuit also sought attorney's fees and costs, as the promissory note contained provisions making the Defendants liable for all legal expenses Arango incurred in enforcing the note.
Key Arguments and Proceedings
The case proceeded from the initial filing in April 2024 through trial in October 2025, a period of approximately 18 months.
Legal Representation
Plaintiff: Yezid Arango
· Counsel for Plaintiff: Fiorella Castagnola Blaikie
Defendants: Carlos Cifuentes | Urbanac Construction LLC SAS
· Counsel for Defendants: Eusebio González | Jeremy Roth
Claims
Arango brought multiple legal theories against the Defendants to recover his money.
Promissory Note Claim
The primary claim alleged the Defendants executed and delivered a promissory note on November 13, 2020. Arango owned and held the note. The Defendants failed to pay the installment due on November 1, 2021, prompting Arango to accelerate payment of the entire balance as permitted under the note's terms.
Breach of Contract
Arango claimed he fully performed all obligations under the agreement by providing the Defendants with $364,271.44 in funding. The Defendants breached their obligations by failing to pay the monthly interest of $7,500 and by failing to pay the principal amount when Arango requested repayment.
Quantum Meruit and Unjust Enrichment
As an alternative theory, Arango alleged the Defendants were unjustly enriched by receiving and retaining $364,271.44 without paying value for it. Under these circumstances, allowing the Defendants to keep the money without repayment would be inequitable, and Arango had no adequate remedy at law.
Equitable Accounting
Arango also requested an accounting from Cifuentes to determine how the borrowed money was spent. As a partner in both Urbanac entities, Cifuentes maintained a significant and trusted position with Arango from 2020 to 2023. Arango knew Cifuentes misused thousands of dollars but could not determine with specificity how the money was actually spent. He requested the Court order Cifuentes to furnish a complete accounting of all funds from the time the money was sent to the present.
Defense
The Defendants filed their answer and affirmative defenses on October 25, 2024, denying virtually all allegations in the complaint.
General Denials
Cifuentes and Urbanac Construction denied they owed Arango money under the promissory note or breached any contractual obligations. They demanded strict proof of all allegations.
Plaintiff's Breach
As their first affirmative defense, the Defendants claimed Arango breached the terms of the promissory note by failing to make payments due under it. They argued Arango confused a transaction intended for Colombia with one in the United States. According to the defense, the money Arango lent was not for the U.S. transaction that was the subject of the promissory note. Due to Arango's alleged breach, the Defendants claimed they were unable to perform under the note.
Jurisdictional Challenge
The Defendants' second affirmative defense challenged whether the Florida Court had proper jurisdiction over the dispute. They contended the money Arango lent was for a transaction entirely in Colombia with no connection to or recourse in the United States. They argued any issues relating to such loans should be litigated in Colombia rather than Florida Courts.
Jury Verdict
After hearing all evidence and arguments, the jury returned its verdict on October 28, 2025.
The jury found in favor of Arango, determining that Cifuentes and Urbanac Construction LLC SAS breached their contract with him. This finding meant the jury rejected the Defendants' arguments that Arango breached first or that the loan related to a separate Colombian transaction outside the Court's jurisdiction.
Principal Balance
The jury awarded Arango $364,271.44 for the principal balance the Defendants owed under the promissory note. This amount represented the full sum Arango transferred to the Defendants between March 2020 and March 2022.
Accrued Interest
The jury calculated accrued interest through the date of the verdict, awarding Arango $117,035.91. This interest reflected the 0.75 percent monthly rate specified in the promissory note, accumulating from when payments first came due in November 2021 through the October 2025 trial.
Late Fees and Other Charges
The jury found no late fees or other contractual charges were owed beyond the principal and interest, awarding zero dollars for this category.
The jury's total damages award came to $481,307.35, representing the principal balance plus accumulated interest over the four years the debt remained unpaid.
The verdict concluded the nearly 19-month legal battle between the former business partners. The substantial award vindicated Arango's decision to pursue litigation after the Defendants made no payments following the housing project's collapse in January 2022. The jury's findings meant Cifuentes and Urbanac Construction LLC SAS were legally obligated to pay Arango the full amount he loaned them, plus significant interest that accumulated during the years they failed to repay the debt.