Florida developer can resume selling condo units despite dispute with EB-5 lender

  • Posted on March 4, 2020 | Updated on March 5, 2020 | 5 min read

Verzasca Group’s boutique condo project in Bay Harbor Islands, despite having more assets then liabilities, filed for bankruptcy reorganisation last July. This was in response to a lender filing a lis pendens that prevented the developer from selling the remaining units. The lender claims they are owed money on an EB-5 loan. With bankruptcy approved, the developer can sell the remaining units and pay over $4 million to creditors. The Verzasca Group is led in part by former hockey player Darius Kasparaitis, widely regarded as one of the dirtiest players ever.

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