Richard Engelberg and Jim Enis v. Gary Leeds, et al.
Published: Jul. 15, 1995 | Result Date: Jun. 14, 1995 | Filing Date: Jan. 1, 1900 |Case number: 659606 – $4,085,990
Judge
Court
San Diego Superior
Attorneys
Plaintiff
Nicholas A. Boylan
(Law Office of Nicholas A. Boylan, APC)
Defendant
Robert S. Brewer Jr.
(Seltzer Caplan McMahon Vitek)
Experts
Plaintiff
Douglas R. Anderson
(technical)
Defendant
Robert K. Athy
(technical)
Facts
This case arose out of fraud allegations in a $20,000,000 sale of the 5-star Westin Resort Hotel in Rancho Mirage, Palm Desert, California. Plaintiffs were Jim Enis and Richard Engelberg who previously held partnership interests in the resort hotel. In that June 1990 sale, partnership interests of Plaintiffs and Defendants were sold to a fellow corporate partner. That partner, a Defendant Japanese real estate developer and builder, settled out early for $200,000. The partnership's law firm, which was involved in the sale of Plaintiffs' partnership interests was also named as a Defendant. They settled out 2 weeks into trial for $775,000; Plaintiffs proceeded to trial against their former partners, Southern California real estate developer Gary Leeds and attorney David I. Sheinfeld.
Settlement Discussions
Plaintiffs contend they demanded $3,000,000 and Defendants offered $10,000.
Damages
$3,700,000 for moneys lost during the 1990 sale of the partnership interests which held the Westin Resort Hotel property.
Injuries
Lost investment interest in partnership, emotional distress.
Result
The jury found Leeds and Sheinfeld liable for fraud, breach of fiduciary duty, and conversion of funds.
Deliberation
6 days
Poll
9-3
Length
11 weeks
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