Shores Of Panama Resort Homeowners Association, Panama City Florida We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. Signed by JUDGE RICHARD SMOAK on 11/15/2010. The seller, the lawsuit claimed, had made a mistake at closing by deeding the beach to the association rather than the bulk buyers. The jury’s award, issued Wednesday, includes $2.5 million in punitive damages against each the defendants. Shores of Panama Review- The Room. Shores of Panama 402. On February 3, a federal jury in Tallahassee returned a verdict for the Shores of Panama Resort Community Association for $11.9 million against four of its former directors. Michael C. Overstreet, Judge. Because no “courses and distances” measurement is found in the Declaration, this court is not bound by the hierarchy noted in Wetstone. Property Details. 5 v. Farkas, 355 So.2d 163, 164 (Fla. 4th DCA 1978) (“This court has previously held that Declarations of Condominium ought to be construed strictly.”). See 605 traveler reviews, 1,552 candid photos, and great deals for Shores of Panama Resort, ranked #83 of 102 specialty lodging in Panama City Beach and rated 2.5 of 5 at Tripadvisor. Directors who violate their trust do so at their own peril, and would be well advised to remember the lessons of the Shores of Panama case. Stroll along the white sands of Panama City … The association promptly amended that action by adding the beach lawsuit settlement to the parade of director misconduct. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. All rights reserved. 1D16–0920. The directors responded by asserting that they had relied on advice of counsel in deciding to settle the beach lawsuit as they did. We differentiate the current case from that relied on by the trial court, Wetstone, 222 So.2d 10, as Wetstone involved determining the boundaries of an island as noted in an official survey. Boundaries of condominium units must be discerned through the declaration of condominium itself, which must contain “a graphic description of the improvements in which units are located and a plot plan thereof that, together with the declaration, are in sufficient detail to identify the common elements and each unit and their relative locations and approximate dimensions.” § 718.104(4)(e), Fla. Stat. Others fail miserably. The Association then moved for partial summary judgment on the counts involving the front desk, and the Club filed a cross-motion for partial summary judgment; each party contended that the front desk was included within its unit. Parties, docket activity and news coverage of federal case CLUB AT SHORES OF PANAMA INC et al v. SHORES OF PANAMA INC, case number 5:14-cv-00042, from Florida Northern Court. The association contended in the lawsuit that the former directors deprived the association of ownership of the beach behind the condos as well as the rental revenues that came from services offered there. During that time, they took numerous actions which owners not affiliated with the bulk buyers considered to be self-dealing and inimical to the association’s interest. This court reviews both orders granting summary judgment and interpretations of condominium declarations de novo. The contemplation of such interior walls, though, renders the applicability of the definition of perimetrical boundaries to the units at hand unclear, as the definition contains no guidance regarding internal walls. Now $72 (Was $̶1̶9̶2̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. Fund v. Wetstone, 222 So.2d 10, 14 (Fla.1969) (“[I]t is well settled that in locating a boundary line natural monuments prevail over courses and distances and courses and distances prevail over quantity.”). On the other side of the coin, associations may now take heart that they have a sizeable hammer available when a board subject to outside influences makes decisions that harm the membership. Beneath the snowflakes, in a cold far away from the mines of Guinea, Steinmetz walks back to his hotel near the shores of Lake Geneva. Shores of Panama Resort is located in the heart of Panama City Beach Beach and offers some of the Gulf Coast’s best resort amenities including a beachfront 13,965 square foot lagoon pool and hot tub, 2 tiki bars serving food and cocktails, heated indoor pool and hot tub, fitness center, full spa, beach activities and rental services, high speed internet access and more. That defense fell on deaf ears. By John Cottle, Becker & Poliakoff / Published May 2016 . Now $72 (Was $̶1̶9̶2̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. The units are then described “more particularly” and numerically with each unit's square footage. As those directors learned, pleading advice of counsel as a justification for such obvious self-dealing will not generally impress a judge or jury. We find that, as noted by the Declaration itself, the most specific description of the units in the Declaration is the allocation of square footage. 26 Apr, 2018. Pursuant to Florida law, there is no insurance coverage for the punitive damages. Trustees of Internal Imp. T he election had been fiercely contested, and everyone knew the vote would be close. Close to $12 million in damages have been awarded by a jury to the Shores of Panama Resort Community Association following a lawsuit against some of the association's former directors. Decided: October 28, 2016 Jack R. Reiter, George N. Meros, Jr., and Jordan S. Kosches, Gray Robinson, P.A., Miami, for Appellant. Any investor purchasing close to, or more than, half of the units of a failed condominium will typically expect to gain control of the association for at least a limited period of time. The Association alleges the five walls bound the entirety of the Club's Commercial Office # 1; however, the walled portion comprises only 75 square feet, which would directly contradict the Declaration's specific allocation of 396 square feet to Commercial Office # 1. Remarkably, the bulk buyer board was actually able to find an attorney to bless this corrupt bargain and provide a written opinion designed to give cover to the directors. Featuring sea views and free WiFi, Shores of Panama II features accommodations attractively located in Panama City Beach, within a short distance of Ripley's Believe it or Not!, Shell Island and Coconut Creek Family Fun Park. The Shores of Panama is often referred to as the premier resort in Panama City Beach. The association contended in the lawsuit that the former directors deprived the association of ownership of the beach behind the condos as well as the rental revenues that came from services offered there. Advice of counsel, while a valid defense to claims against directors in most situations, will not afford protection where a legal opinion is sought and given solely to provide cover for questionable board decisions. Stay up-to-date with FindLaw's newsletter for legal professionals, SHORES OF PANAMA CLUB LLC v. SHORES OF PANAMA RESORT COMMUNITY ASSOCIATION INC. Appellant, Shores of Panama Club, LLC (the Club), and appellee, Shores of Panama Resort Community Association, Inc. (the Association), each claim ownership of the front desk in the lobby area of the condominium in which each party owns a unit, and the parties' two units are contiguous. One of the claims made by the association was that they were prevented from owning the beach located behind the condos by the former directors. The Declaration defines the condominium units' boundaries three ways: in words, with numbers, and with diagrams. We recommend using In the wake of the Shores of Panama verdict, investors are now on notice that their exercise of board control carries substantial risks for their proxy board members, especially when they use that control to further their own interests at the expense of other association members. Beneath the snowflakes, in a cold far away from the mines of Guinea, Steinmetz walks back to his hotel near the shores of Lake Geneva. Less than five months before the election, the bulk buyer companies had sued the association, claiming that when they purchased their units, they were supposed to have been deeded the beach. It filed a motion to set aside the settlement of the beach lawsuit, filed a separate lawsuit seeking to recover the beach, and assumed control of a lawsuit filed earlier by an individual association member accusing four members of the bulk buyer board of a breach of fiduciary duty. Regardless of reasons and motives, there is generally friction created between owners and investors when a bulk buyer or subsequent developer takes control of a condominium board using the voting strength of its newly acquired units. The Shores of Panama Case: The Fiduciary Duty Owed By Bulk Buyer Controlled Boards. Shores of Panama is a 23- story Gulf- front luxury resort located in the heart of Panama City Beach. Blog. Shores of Panama Resort Cmty., 204 So.3d 541, 543 (Fla. 1st DCA 2016). At the end of the day, directors installed by bulk buyers and subsequent developers have the same fiduciary duty to the membership as any other directors. SHORES OF PANAMA CLUB, LLC, a Delaware Limited Liability Company, Appellant, v. SHORES OF PANAMA RESORT COMMUNITY ASSOCIATION, INC., a Florida Not–For–Profit Corporation, Appellee. Shores of Panama Resort, Panama City Beach: 235 answers to 60 questions about Shores of Panama Resort, plus 582 reviews and 1,496 candid photos. The celebration was short-lived, however, as the new board began assessing the damage of the past two and a half years. The Shores of Panama Case: The Fiduciary Duty Owed By Bulk Buyer Controlled Boards. The election had been fiercely contested, and everyone knew the vote would be close. All rooms have kitchens and washers/dryers. 1D16-0920 SHORES OF PANAMA RESORT COMMUNITY ASSOCIATION, INC., a Florida Not-For-Profit Corporation, Appellee. Microsoft Edge. The incumbent directors of the Shores of Panama Resort Community Association had the unwavering support of a group of investors who had, two and a half years earlier, purchased just less than half of the condominium units in bulk at a distressed-asset fire sale. The term “courses and distances” refers to “the angles and scaled distances indicated on a plat and must be followed to establish the exact boundaries.” 1 Fla. Jur.2d Adjoining Landowners § 18. Our 23-story Gulf front property features 150 beautifully appointed vacation rentals and a host of luxury amenities, including a full-service spa, lagoon style pool, two tiki bars for on-site dining and drinks, and exhilarating water sports and beachfront activities to keep you entertained. While it is hoped that Touré, who lives in the US (where she has made an agreement with the authorities), will make an appearance, Conté’s wife should not, barring surprises, be seen at court. Learn more about FindLaw’s newsletters, including our terms of use and privacy policy. You should not send us any information through this website that you would want treated confidentially. Feb 8, 2016 - A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the One of the claims made by the association was that they were prevented from owning the beach located behind the condos by the former directors. Here, unlike in Wetstone, we must interpret a declaration of condominium, rather than an official survey of land, to determine the boundaries of the condominium's internal units. We, however, disagree that the definition of perimetrical boundaries contained in the Declaration is a “courses and distances” measurement. Even when the board can find an attorney willing to sign off on questionable practices, the directors will not necessarily be immune from liability. The jury’s award, issued Wednesday, includes $2.5 million in … Featuring elegantly appointed one, two, and three bedroom condos that can accommodate up to 10 guests, our resort is the ultimate Gulf of Mexico vacation destination. The only thing the association got from the settlement was the dismissal of the lawsuit. (2006). 2 Bedrooms 2 Bathrooms Condo in Panama City Beach. For starters, the pool was designed by the same people who designed many of Disney World and Universal Studio's water features. Shores of Panama, LLC, 41 Fla. L. Weekly D 2458 (Fla. 1st DCA, November 2, 2016), the association sent owners notice of a special meeting to adopt an amended budget increasing the annual budget originally set for legal fees to cover one-time legal and engineering expenses for litigation over construction defects. Pictorially, the Declaration contains a diagram of the condominium's ground floor; the diagram indicates the locations of interior walls and also labels each unit by its name. PANAMA CITY BEACH, Fla. (AP) – A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the association. Parties, docket activity and news coverage of federal case CLUB AT SHORES OF PANAMA INC et al v. SHORES OF PANAMA INC, case number 5:14-cv-00042, from Florida Northern Court. As such, we determine the trial court erred when it found the Association owned the front desk, and we REVERSE and REMAND for the trial court to enter summary judgment on the counts relating to the front desk ownership controversy in favor of the Club. Because it “assumes some of the attributes of a covenant running with the land,” a declaration of condominium is more than a “mere contract spelling out mutual rights and obligations of the parties thereto,” and thus must be strictly construed. WiFi is free, and this condo also features a front desk. On February 3 of this year, a federal district court jury in Tallahassee returned a verdict for $11.9 million against the former directors, $10 million of that amount being in punitive damages. Ass'n, Inc., 105 So.3d 579, 580 (Fla. 3d DCA 2012). The Club alleges the trial court erred in determining that the Club's unit, Commercial Office # 1, encompassed less than the 396 square feet outlined in the Declaration of Condominium and in awarding ownership of the front desk and the space behind it to the Association. The Shores of Panama verdict will unquestionably have a wide-ranging impact on real estate investors seeking to purchase distressed condominium assets in bulk. Internet Explorer 11 is no longer supported. The reasons for seeking to control an association range from the innocent to the nefarious. After such a review, we find the trial court erred in determining the boundary between the Club's Commercial Office # 1 and the Association's Commercial Registration Unit. Resort Collection guests checking into Shores of Panama will use the front desk located at Majestic Beach Resort (10901 Front Beach Rd. The incumbent directors of the Shores of Panama Resort Community Association had the unwavering support of a group of investors who had, two and a half years earlier, purchased just less than half of the condominium units in bulk at … The lawsuit alleged “breach of fiduciary duty” on the part of the defendants: New York residents and Shores of Panama Resort condo owners Solly Halberthal, Isere Halberthal, Joshua Ostreicher and Jay Glatter. The election had been fiercely contested, and everyone knew the vote would be close. Ranked #81 of 92 specialty lodging in Panama City Beach and rated 3 of 5 at Tripadvisor. 2018 Hurricane Michael. The incumbent directors had been defeated, and the bulk buyers had lost control of the board. The Shores of Panama Case: The Fiduciary Duty Owed By Bulk Buyer-Controlled Boards. PANAMA CITY BEACH, Fla. (AP) — A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit … Our conclusion is also supported by Florida Administrative Code Rule 61B–18.0051, which requires a declaration of condominium in which percentage of ownership is not based upon an equal fractional basis to include the square footage of each unit based on its perimetrical boundaries. Sending an e-mail through this website does not create an attorney client relationship. The Shores of Panama Resort features a world-class pool, a kids club, a health center with a steam room, covered parking, and two tiki bars. Call (850) 640-6466 Message Website. See 605 traveler reviews, 1,552 candid photos, and great deals for Shores of Panama Resort, ranked #83 of 102 specialty lodging in Panama City Beach and rated 2.5 of 5 at Tripadvisor. The lawsuit sought to correct this alleged mistake by forcing the association to give up the beach to the bulk buyers. Shores of Panama is in the middle of litigation with the builder’s insurance carrier. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. See Case v. Newman, 154 So.3d 1151, 1153 (Fla. 1st DCA 2014); Courvoisier Courts, LLC v. Courvoisier Courts Condo. Guest's can relax in a three-bedroom vacation condo rental with a view of the beach. In February 2016, a jury awarded almost $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the association. While the diagram of the lobby does show that Commercial Office # 1 includes a small walled-off area, it is unclear whether those walls are intended to be internal walls or actual boundary walls. It remains to be seen how the Shores of Panama Association does. The News Herald reports (http://bit.ly/1mmh6H7) the association contended in the lawsuit that the former directors deprived the association of ownership of the beach behind the condos as well as the rental … In the Shores of Panama case, the four directors who approved the settlement of the beach lawsuit all had financial or family connections to the bulk buyers and their principals. See also Fountains of Palm Beach Condo., Inc. No. Such directors would be well advised to remember who they are charged with serving, as well as the potential consequences of placing the interests of investors ahead of the association’s membership. The trial court held that the front desk belonged to the Association, reasoning that the definition of the units' perimetrical boundaries was a “courses and distances” measurement that necessarily superseded the square footage allocation within the Declaration, which the court found was a mere “quantity” measurement. The lawsuit alleged “breach of fiduciary duty” on the part of the defendants: New York residents and Shores of Panama Resort condo owners Solly … The pool holds an astonishing 330,000 galloons in its lagoon style. The new board moved quickly to stop the bleeding. Close to $12 million in damages have been awarded by a jury to the Shores of Panama Resort Community Association following a lawsuit against some of the association's former directors. When we walked into Shores of Panama room 1914, the first thing that stood out was that the light switches didn’t seem to work. The resort features over 14,000 square feet of pool space, indoor and outdoor with hot tubs, a full spa, modern fitness center with brand new equipment and 2 pool side Tiki bars. The lawsuit alleged “breach of fiduciary duty” on the part of the defendants: New York residents and Shores of Panama Resort condo owners Solly Halberthal, Isere Halberthal, Joshua Ostreicher and Jay Glatter. The underlying suit originated when the Association sued the Club alleging, among other claims, that the Club was in wrongful possession of the front desk. Property Description. No. The incumbent directors of the Shores of Panama Resort Community Association had the unwavering support of a group of investors who had, two and a half years earlier, … WOLF, J. Appellant, Shores of Panama Club, LLC (the Club), and appellee, Shores of Panama Resort Community Association, Inc. (the Association), each claim ownership of the front desk in the lobby area of the condominium in which each party owns a … The lack of clarity of both the perimetrical boundaries definition and the diagram of the lobby area further supports our conclusion that the allocation of square footage within the Declaration controls in this case. In words, the units' perimetrical boundaries are defined as “the vertical planes of the undecorated exterior finish of the exterior walls bounding the unit and the center of any walls between the unit and another unit, in each case extended to intersections with each other and with the upper and lower boundaries.” This is a general description and is not specific as to the boundaries of the particular units in question. Ass'n, Inc., 351 So.2d 755, 757 (Fla. 2d DCA 1977). Filing 81 ORDER that the Crossclaim of Dft Paradise Shores of Bay County, LLC against Dfts Robert E. Blackerby, Magnum Capital, LLC, and MH I, LLC (Doc. An appeal from the Circuit Court for Bay County. They are the ONLY linen service in the area that guarantees completely clean, sanitized and freshly ironed sheets and towels, giving you peace of mind and a great night's rest! Shores Of Panama Resort Homeowners Association, Panama City Florida We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. Picture-Perfect Panama City Beach Condo Rentals After a day spent surfing, shopping, and sightseeing in Panama City Beach, relax and unwind at the family-friendly Shores of Panama resort. Exceptions are made for married couples. 42, P. 22-23) is dismissed. _____________________________/ Opinion filed October 28, 2016. ), which can be reached by calling (850) 563-1000. Four days before the election, the bulk buyer board met in a meeting closed to other owners and voted to settle the lawsuit by deeding the beach to the bulk buyers for no monetary consideration. The jury’s award, issued Wednesday, includes $2.5 million in punitive damages against each the defendants. Before purchasing in an HOA community you will want to research their rules and deed restrictions, reserve funds, budget, bylaws, and documents of the association. CASE NO. PANAMA CITY BEACH — A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the association. Not every investor seeks power over an association in order to plunder its assets, à la the Shores of Panama, but virtually all will want some degree of control to facilitate the marketing and sale of their units. Copyright © 2021, Thomson Reuters. Print this article Font size - 16 +. Once board control passes from the subsequent developer or bulk buyer to the other owners, the association will be in a position to hold former directors accountable for shirking their fiduciary duty. The Declaration specifically states Commercial Office # 1 encompasses 396 square feet. Shores of Panama 1911 ~19th floor * Reserved Parking ~Vacation Life Properties This property features 100% sanitized, clean sheets and towels, professionally cleaned by Gulf Coast Laundry Services. Descriptions of the condominium units found in a declaration and its accompanying exhibits must be strictly construed, as “[a] declaration of a condominium is more than a[ ] mere contract spelling out mutual rights and obligations of the parties thereto it assumes some of the attributes of a covenant running with the land, circumscribing the extent and limits of the enjoyment and use of real property.” Pepe v. Whispering Sands Condo. No front porch light, no living room lights, no bedroom lights…only the kitchen light and 2 of the bathroom lights worked. Many condos in Panama City Beach have done very well with these insurance claims. The email address cannot be subscribed. Begin typing to search, use arrow keys to navigate, use enter to select. Beautifully Decorated 4th … Shores of Panama Resort: Re-think Panama City and Shores of Panama - See 605 traveler reviews, 582 candid photos, and great deals for Shores of Panama Resort at Tripadvisor. Now, however, the other owners were organized and fighting back with their own slate of candidates. Lawsuits and years of controversy surrounding the club amenities at the Shores of Panama condominium have come to an end, with the homeowner’s association purchasing the amenities for $16.2 million. Shores of Panama 402 admin 2021-01-05T13:41:52-06:00. This settlement was kept confidential from the other owners until after the election. Because it “assumes some of the attributes of a covenant running with the land,” a declaration of condominium is more than a “mere contract spelling out mutual rights and obligations of the parties thereto,” and thus must be strictly construed. Some associations do a phenomenal job with this. The first thing they discovered is that the association had just lost its $1.3 million beach. I am Zachary Vandyke, a lawyer in Panama City dedicated to helping individuals and families navigate the legal process. We agree with the Club and reverse and remand for the trial court to award ownership of the front desk and the area behind it to the Club. When the final vote was counted and the results announced, the room erupted in cheers. In fact, both parties agree that the only way for Commercial Office # 1 to encompass 396 square feet would be if the front desk were included within the unit and if the walls within the unit were considered interior rather than boundary walls. from $80 per /nt from $6000 per /mo Book Now. With the voting strength of those units, the bulk buyers had elected their colleagues as directors and controlled the association’s board for those two and a half years. Please try again. Please click the "Accept" button if you understand the forgoing statement and wish to proceed. The accommodations is air conditioned and has a spa bath. Further, the trial court relied on Wetstone for its outline of the legal hierarchy of boundary line markers, noting that natural monuments prevail over courses and distances, and courses and distances prevail over quantity. The lawsuit alleged “breach of fiduciary duty” on the part of the defendants: New York residents and Shores of Panama Resort condo owners Solly Halberthal, Isere Halberthal, Joshua Ostreicher and Jay Glatter. Age Restriction You must be at least 21 years of age to reserve a room at the Shores of Panama. October 2018 Hurricane Michael hit. Firefox, or SHORES OF PANAMA CLUB, LLC, a Delaware Limited Liability Company, Appellant, v. SHORES OF PANAMA RESORT COMMUNITY ASSOCIATION, INC., a Florida Not–For–Profit Corporation, Appellee. Google Chrome, Of that amount, $10 million was for punitive damages – damages not covered by insurance under Florida law. PANAMA CITY BEACH — A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the association. The very general definition of perimetrical boundaries found in the Declaration lacks both a direction and a distance, and is therefore not a “courses and distances” measurement. The trial court determined the written definition of perimetrical boundaries contained in the Declaration was a “courses and distances” measurement that legally superseded the “quantity” measurement of the unit's square footage. Ripley's Believe It or Not is minutes away. While it is hoped that Touré, who lives in the US (where she has made an agreement with the authorities), will make an appearance, Conté’s wife should not, barring surprises, be seen at court. PANAMA CITY BEACH, Fla. (AP) — A jury has awarded nearly $12 million in damages to the Shores of Panama Resort Community Association in a lawsuit against several former directors of the association. Appellant, Shores of Panama Club, LLC (the Club), and appellee, Shores of Panama Resort Community Association, Inc. (the Association), each claim ownership of the front desk in the lobby area of the condominium in which each party owns a … View deals for Shores of Panama Resort, including fully refundable rates with free cancellation. Shores of Panama Resort Cmty., 204 So.3d 541, 543 (Fla. 1st DCA 2016). Shores of Panama is one of the largest resorts on Panama City Beach. Before purchasing in an HOA community you will want to research their rules and deed restrictions, reserve funds, budget, bylaws, and documents of the association. Reserve a room at the Shores of Panama Resort Cmty., 204 So.3d,... The Shores of Panama is a 23- story shores of panama lawsuit front luxury Resort located in the Declaration the! 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We, however, as the new board began assessing the damage of the Beach navigate, arrow! Understand the forgoing statement and wish to proceed rental with a view the! From shores of panama lawsuit 6000 per /mo Book now families navigate the legal process referred to as the new began! Am Zachary Vandyke, a lawyer in Panama City Beach by insurance under Florida law, there is no coverage... To search, use arrow keys to navigate, use arrow keys navigate... Information through this website that you would want treated confidentially had been fiercely contested and.

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