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    • Loma Limited v. James T. Riner

    Mar. 5, 1994
    Verdicts and settlements
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    Real Property
    Commercial Property
    Fraud

    Loma Limited v. James T. Riner

    Published: Mar. 5, 1994 | Result Date: Feb. 7, 1994 | Filing Date: Jan. 1, 1900 |
    Case number: SCV265463 –  $170,000

    Judge

    Bob N. Krug

    Court

    San Bernardino Superior


    Attorneys

    Plaintiff

    Mario W. Mainero Jr.

    Jan Zemanek


    Defendant

    Bruce M. Leyden


    Experts

    Defendant

    Naomi A. Bernstein
    (technical)

    Ray Alexander
    (technical)

    Facts

    In December of 1989, Defendant James T. Riner, a real estate broker executed a real estate commission agreement with Plaintiff Loma, Ltd., the seller, for the sale of a shopping center. Escrow closed in April of 1990. Defendant broker paid half of his commission to the buyer's president, an unlicensed person, without disclosure to the seller, a Chapter 11 debtor in possession.

    Settlement Discussions

    Plaintiff contended they made a demand for $100,000 and Defendant offered $20,000 to be paid in a 4-year structure.

    Damages

    $170,000 (50% of the commission) plus interest and legal fees.

    Deliberation

    5 hours

    Poll

    9-3

    Length

    7 days


    #77753

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