Miami Jury Awards $230K in Steel Venture Contract Dispute

Case Background
Abraham Palacios, a skilled professional in steel structure fabrication, formed an oral business partnership with Alejandro Quintana in October 2020. They planned to jointly launch and operate companies focused on metal fabrication. Palacios contributed industry knowledge, experience, and sweat equity. Quintana offered to provide financial backing. Together, they registered two companies, Steel Building Assemble, LLC and Q&P Steel Corporation, and agreed to split profits and losses equally.
Cause
Quintana lacked immediate capital but owned two warehouses with sufficient equity. Palacios secured their sale, enabling the partnership’s seed funding. Using that capital, Palacios located and negotiated the purchase of industrial lots in Lake Hamilton and St. Cloud. These properties, though meant for the partnership, were titled under Quintana’s affiliate, Holdings of Christopher, LLC. Palacios also contributed $350,000 worth of equipment and sourced more through discounts and personal contacts. Despite his efforts, in June 2021, Palacios received a letter ending their business relationship. Shortly before, Quintana removed himself from Holdings of Christopher, LLC, suggesting an effort to shield assets from Palacios. Palacios was then barred from accessing his equipment stored on partnership property.
Injury
Palacios lost access to equipment valued at $350,000. He had worked for months establishing operations and securing assets. Despite demands, he was denied entry to the warehouse where his equipment remained. Quintana refused to acknowledge the partnership or return the machinery. Palacios’s work, resources, and reputation were left uncompensated. His efforts to build the joint venture had been u
Continue Reading This Article
Subscribe to access this article and our entire library of legal content.