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Florida Real Estate Lawsuit: Jury Sides With Millennium World Trade Business LLC Despite Breach of Contract Claims

Florida Real Estate Lawsuit: Jury Sides With Millennium World Trade Business LLC Despite Breach of Contract Claims

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Nishica Srivastava
July 31, 2024
Florida Real Estate Lawsuit: Jury Sides With Millennium World Trade Business LLC Despite Breach of Contract Claims

Felix Erdulfo Malaga Torres v Millenium World Trade Business, LLC Et Al

On July 11, 2024, the Florida jury returned a defense verdict in favor of Millennium World Trade Business, LLC after finding Plaintiff Felix Torres's claims of breach of contract and unjust enrichment to be unfounded.

Case Background

On January 27, 2023, Felix Torres filed an action for breach of contract before the Florida State, Miami-Dade County, Eleventh Circuit Court. Judge Lisa S. Walsh presided over this case. [Case number: 2023-001445-CA-01]

Cause

On February 13, 2013, Plaintiff Felix Erdulfo Malaga Torres entered into a Purchase Agreement with New Osimo, LLC to buy two properties—a “Large Lot” and a “Small Lot”—for $3,750,000.00. To facilitate the purchase, Torres deposited $1,817,500.00 with Millennium World Trade Business, LLC, covering 48.5% of the total price. On April 12, 2013, New Osimo, LLC recorded a Special Warranty Deed naming Millennium as the Grantee. On March 29, 2019, all Millennium members transferred their interests to Ernesto, as detailed in the Assignments of Membership Interest. Consequently, Ernesto became the sole member and manager of Millennium. On June 23, 2022, Ernesto, acting as Millennium’s Managing Member, executed a $1,800,000.00 mortgage on both properties. Ernesto was listed as the Mortgagor, while Millennium was the Mortg

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Tags

breach of contract
defense verdict
unjust enrichment
quiet title