When bankruptcy trustee Barry Mukamal took over administration of Majorca Isles in 2012, the Miami Gardens homeowners’ association was in such dire financial straits that its board struggled to fund trash collection. The community had no cash, no system for collecting association fees and attorneys say the developer had misled owners about their accounts receivables.

This month, a 180-degree turnaround: A hard-fought suit against Majorca Isles developer D.R. Horton Inc. yielded an $11 million settlement that will fully repay all creditors, bolster the association’s financial reserves and fund repairs.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]