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Judge blesses Unit Owners’ offer; Klauber to be paid $350,000 cash

Judge blesses Unit Owners’ offer; Klauber to be paid $350,000 cash

The Association said it would wire $3.1 million immediately with a separate agreement to give Klauber the $350,000 in cash. The money for The Association was being funded by Andy Adams as a loan to be paid back by Unit Owners.

September 5, 2015 | Posted in Major Headlines, Real Estate, Top Box | Read More »

Colony Trustee asks Bankruptcy court for June 26 sale of $23 million judgment

Colony Trustee asks Bankruptcy court for June 26 sale of $23 million judgment

The Trustee argues to the Judge that all efforts to arrive at a ‘global settlement’ with the Association of Unit Owners has failed. The Trustee added that there are no ongoing operations at The Colony and after four years of litigation, “The Trustee believes it is time to efficiently monetize the assets of his estate.”

June 9, 2015 | Posted in Major Headlines, Top Box | Read More »

Association vows to appeal Colony court ruling; plaintiff speaks out

Association vows to appeal Colony court ruling; plaintiff speaks out

“It was our home away from home. It was great until things got out of control.”

May 26, 2015 | Posted in Major Headlines, Top Box | Read More »

Sarasota Judge rules Colony Association must repair units

Sarasota Judge rules Colony Association must repair units

Sarasota Judge declares that Colony Association “has a duty to maintain, repair, replace, and operate the condominium property.”

May 19, 2015 | Posted in Major Headlines, Top Box | Read More »

The Colony and clearing of cockroaches, Mayoral outbursts and attorneys drill for Longboat dollars

The Colony and clearing of cockroaches, Mayoral outbursts and attorneys drill for Longboat dollars

The whole place must be cleared and all the convalescent memories must be extinguished before either Ocean Properties or Unicorp can gain control from the flailing unit owners.

December 15, 2014 | Posted in Opinion, Stephen Reid | Read More »

Colony Unit owners sued for $5 million in Sarasota County Circuit Court; Complete suit posted

Colony Unit owners sued for $5 million in Sarasota County Circuit Court; Complete suit posted

Colony Lender filed suit against each and every Colony Resort unit owner to collect more than $5 million it says is owed for back rent and interest on the recreational facilities it owns.

September 17, 2014 | Posted in Major Headlines, Top Box | Read More »

The Colony: Where King Lear spent his final night

The Colony: Where King Lear spent his final night

When I have grandchildren, I will sit and tell them about this man named Klauber and what he did and how the world he created unraveled. It will be an epic story with a few boring legal interludes and asides that will threaten to put them to sleep. And when it comes close to the finale, they will look up and say, “What happened next grandpa?”

September 6, 2014 | Posted in Opinion, Stephen Reid | Read More »

The Colony chess game coming to a painful close

The Colony chess game coming to a painful close

The world is tired of watching the game. The rooks and the horses are closing in inexorably on the Association’s last few pieces. The Association is studying esoteric moves through their attorneys wherein a few Russian masters escaped when in the same position. But they are growing tired.

July 22, 2014 | Posted in Opinion, Stephen Reid | Read More »

Colony Judge reversed again

Colony Judge reversed again

Judge May has been reversed five out of five times on appeal.

July 6, 2014 | Posted in Major Headlines, Top Box | Read More »

Why did Colony unit owners fail to bid? Jay Yablon explains…

Why did Colony unit owners fail to bid? Jay Yablon explains…

‘One thing I learned about developers in the past three years is a whole bunch of these guys run around saying they have money…’

June 29, 2014 | Posted in Major Headlines, Top Box | Read More »