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BeckyV (Michigan)
Posts: 43
Posted:
Has anyone out there ever prevailed in a case against a developer?
Any cash settlement? Whata circumstances. We have just brought a suit against our developer for mismanagement of funds and fiduciary duty.
SamuelB (North Carolina)
Posts: 83
Posted:
Becky, I sent you an email on this topic.

SamuelB

I fly because it releases my mind from the tyranny of petty things . . . - Antoine de St-Exupéry
JasonL (Illinois)
Posts: 10
Posted:
Our HOA here in Illinois is also looking into filing against the developer of our subdivision for missing money and paperwork. Any info would be wonderful.
Thanks, Jason
BeckyV (Michigan)
Posts: 43
Posted:
Jason,
Shortly after I posted this message in Feb, I began a suit against the developer and was joioned by 8 other co-owners. We brought a derivative action against the developer on behalf of the Association. We had to do this brecause the Association was essentially backrupt and had no funds to b ring such a suit. We have had reasonable success in our case. We have been in court and prevailed on the issues we brought before the court. We will be back in court this month and expect to prevail again. We are also scheduled for court ordered mediation on 29Nov where we hope to be successful in recouping some of the loss the association has suffered through the actions of the developer.
Find a good attorney, one who is very knowledgeable of condo law in your state (We used an attorney who helped author the Michigan Condominium Act)and be prepared for significant cost, both financial and emotional. Do not be afraid to attempt to correct what is wrong. Your developer is counting on you not doing so. Also be prepared fot the developer to attempt to divide and conquer. Stay together and stay strong.

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