$30 Million Win for JM+M Team
The U.S. District Court in Hartford, Connecticut, entered a final judgment in favor of Joyce, McFarland + McFarland clients Wells Fargo Bank, NA as Trustee and ORIX Capital Markets, LLC, after a long and hard-fought case. The judgment imposes alter ego liability on real estate developer Michael Konover for over $30 million based on a multi-million dollar judgment owed by a Konover-owned company.
Jeff Joyce served as co-lead counsel in the Hartford, Connecticut, jury trial and in the underlying case tried in Baltimore County, Maryland. ORIX Capital Markets, LLC, as special loan servicer to Wells Fargo Trustee, assembled the trial team, including Joyce, McFarland and McFarland lawyers, and Hartford lawyers Jay Nolan, Erick Sandler and Jeffrey Mueller of Day Pitney, to pursue alter ego claims against Michael Konover in federal court. A unanimous jury ruled in favor of the lenders in a seven week jury trial, finding that Konover was the alter ego for his entity. The lenders sought and obtained an additional award of virtually all of their attorneys’ fees and expenses.