The pool holds an astonishing 330,000 galloons in its lagoon style. Blog. 26 Apr, 2018. 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. Of that amount, $10 million was for punitive damages – damages not covered by insurance under Florida law. CASE NO. 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. 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. Guest's can relax in a three-bedroom vacation condo rental with a view of the beach. 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. 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. 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. 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. 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. The reasons for seeking to control an association range from the innocent to the nefarious. 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. Now, however, the other owners were organized and fighting back with their own slate of candidates. 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, 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. 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. An appeal from the Circuit Court for Bay County. 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.”). 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. T he election had been fiercely contested, and everyone knew the vote would be close. 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. 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. 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 The Shores of Panama Case: The Fiduciary Duty Owed By Bulk Buyer-Controlled Boards. 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. The incumbent directors had been defeated, and the bulk buyers had lost control of the board. The jury’s award, issued Wednesday, includes $2.5 million in punitive damages against each the defendants. 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. 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. 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. 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. 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. Ass'n, Inc., 105 So.3d 579, 580 (Fla. 3d DCA 2012). 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 … Ripley's Believe It or Not is minutes away. See Case v. Newman, 154 So.3d 1151, 1153 (Fla. 1st DCA 2014); Courvoisier Courts, LLC v. Courvoisier Courts Condo. 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, … By John Cottle, Becker & Poliakoff / Published May 2016 . 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. 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. 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 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. The first thing they discovered is that the association had just lost its $1.3 million beach. 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. 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. 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. The election had been fiercely contested, and everyone knew the vote would be close. The email address cannot be subscribed. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. Others fail miserably. 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. 1D16–0920. 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. 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. Ass'n, Inc., 351 So.2d 755, 757 (Fla. 2d DCA 1977). That defense fell on deaf ears. The only thing the association got from the settlement was the dismissal of the lawsuit. This settlement was kept confidential from the other owners until after the election. Exceptions are made for married couples. Even when the board can find an attorney willing to sign off on questionable practices, the directors will not necessarily be immune from liability. 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 … Google Chrome, 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. Shores of Panama is a 23- story Gulf- front luxury resort located in the heart of Panama City Beach. Shores of Panama Resort Cmty., 204 So.3d 541, 543 (Fla. 1st DCA 2016). Sending an e-mail through this website does not create an attorney client relationship. All rooms have kitchens and washers/dryers. It remains to be seen how the Shores of Panama Association does. 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. 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. 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! 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. 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. Some associations do a phenomenal job with this. 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 directors responded by asserting that they had relied on advice of counsel in deciding to settle the beach lawsuit as they did. 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 is one of the largest resorts on 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. The election had been fiercely contested, and everyone knew the vote would be close. The jury’s award, issued Wednesday, includes $2.5 million in … Resort Collection guests checking into Shores of Panama will use the front desk located at Majestic Beach Resort (10901 Front Beach Rd. The units are then described “more particularly” and numerically with each unit's square footage. 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 Declaration defines the condominium units' boundaries three ways: in words, with numbers, and with diagrams. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. 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. 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. 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. 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. 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 seller, the lawsuit claimed, had made a mistake at closing by deeding the beach to the association rather than the bulk buyers. Michael C. Overstreet, Judge. 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. We, however, disagree that the definition of perimetrical boundaries contained in the Declaration is a “courses and distances” measurement. 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. 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