Barnett Building Update

[Non-RedNeck Westsider]

Just from the linked article this sounds very similar to the Bakery proceedings.  My initial guess is thatthis will hash out similar in the foreclosure proceedings; ie the defendant (Barnett, Edgewood) is claiming the initial loan had "handshake" deals or terms that were not included in the loan docs. 

I am interested to see this play out.  It is good to see Barnett has hired Rogers - if there any truth or legal precedent to Barnetts claims in their response to the foreclosure - Rogers will give them more than adequate representation (maybe level the playing field a little more).

I wouldn't disagree with the 'handshake' sentiment, but I'd like to add that in both cases, the party defaulting has not appeared to hold up their end of the handshake either.   

[tufsu1]

Anyone else feeling sorry for the Baltimore guys 2014-412?

(as someone from Baltimore)...NO!!!

[thelakelander]

Anyone else feeling sorry for the Baltimore guys 2014-412?

What do the Baltimore guys have to do with the Barnett?

[dp8541]

Their current claim appears to be that unnamed third party(s) were to finance the full purchase price of the original loan with Stache (after the original inventor, Desai - another Kahn investment it appears, backed out before closing on the original mortgage).  As support of that they indicate that Stache was still willing to loan an additional 100k to Barnett even after a single mortgage payment was yet to be made.

[duvalbill]

Just from the linked article this sounds very similar to the Bakery proceedings.  My initial guess is thatthis will hash out similar in the foreclosure proceedings; ie the defendant (Barnett, Edgewood) is claiming the initial loan had "handshake" deals or terms that were not included in the loan docs. 

I am interested to see this play out.  It is good to see Barnett has hired Rogers - if there any truth or legal precedent to Barnetts claims in their response to the foreclosure - Rogers will give them more than adequate representation (maybe level the playing field a little more).

Handshake agreements aren't binding in the face of a signed agreement.

[dp8541]

Just from the linked article this sounds very similar to the Bakery proceedings.  My initial guess is thatthis will hash out similar in the foreclosure proceedings; ie the defendant (Barnett, Edgewood) is claiming the initial loan had "handshake" deals or terms that were not included in the loan docs. 

I am interested to see this play out.  It is good to see Barnett has hired Rogers - if there any truth or legal precedent to Barnetts claims in their response to the foreclosure - Rogers will give them more than adequate representation (maybe level the playing field a little more).

Handshake agreements aren't binding in the face of a signed agreement.

If the parties act in such a way that exceeds the four squares of the contract or other monies are disbursed in such a way that clearly delineates the presence of other agreements, then they certainly are grounds for review.

Good check I checked the new messages as I was just about to post something very similar.  It will be up to Barnett to prove this in the foreclosure proceedings.

[sschwartz2929]

Shad lost the lawsuit. No foreclosure. Check public records for order.

[thelakelander]

So is the Barnett project still on? Any word on the status of the Trio?

[Todd_Parker]

So is the Barnett project still on? Any word on the status of the Trio?

[jaxnyc79]

http://www.metrojacksonville.com/article/2015-jul-shad-khan-loses-foreclosure-bid-for-barnett

Interesting read.  No summary foreclosure, and now in Round 2 of this battle, they will need to demonstrate that Khan's "Stache" engaged in misleading conduct.  Was it ever reported that there were plans to put a charter school there?