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.

Read The Real Deal story

View More

Please Login or Register