Purchase and sale agreements involving transfer of commercial real estate are typically long, heavily negotiated documents. The representations and warranties provisions, disclaimers of reliance clauses and due diligence materials will govern the transaction and any litigation that results from the transactions.
Those claims range from breach of contract, breach of warranty, negligent misrepresentation, fraud, fraudulent inducement, real estate fraud, piercing the corporate veil and fraudulent transfers. Frequently, the seller is a single-purpose entity that has distributed the proceeds from the sale to the owners and ceased to do any business.
Jack and Walter have tried a wide range of real estate fraud cases in multiple counties in Texas, receiving million and multi-million dollar verdicts.
In 2004, Walter was part of a team that won an $11,000,000 verdict in Travis County, Texas for breach of a lease for a downtown building. The jury found 3 different types of fraud, pierced the corporate veil and awarded $5,000,000 in punitive damages. In 2006, Walter was lead counsel in a Bexar County, Texas trial where the jury awarded a verdict in excess of $1,000,000 for breach of contract and fraudulent transfers.
Real estate fraud lawsuits involve convoluted paper trails and conflicting narratives, often with the creation of complex damage models, the vetting and hiring of multiple experts and chasing down witnesses all over the globe.