Akerman says Z Capital Group needs to pay up.
The law firm is allegeding that the New York-based merchant bank owes $2.2 million in legal fees for a pair of lawsuits involving a MIami Beach condo-hotel.
Akerman is suing Z Capital and its entity that owns a majority of the Carillon Miami Wellness Resort at 6801 Collins Avenue, according to a Nov. 16 complaint filed in Miami-Dade Circuit Court. Z Capital purchased the Carillon’s resort and spa components for $21.6 million in 2015, Akerman has since represented the bank on various legal matters tied to the property, which consists of three oceanfront towers.
The legal work included representing Z Capital in two eight-year-old, still pending lawsuits filed by the Carillon’s three condo associations, Akerman’s complaint states. Akerman is no longer involved in the cases.
Spokespersons for Z Capital and Akerman declined comment.
Z Capital, led by CEO James Zenni Jr., owns 70 units in the 280-unit Carillon, and controls a majority of the common areas, including the pools and gyms in the three towers. Four months ago, Z Capital lost an attempt to hit Carillon’s condo owners with a $7.7 million assessment to cover its legal fees and costs for the associations’ litigation.
In an August court ruling, Miami-Dade Circuit Judge Michael Hanzman blocked Z Capital from accessing the $7.7 million, describing the gambit as “audacious.” Hanzman’s order was that the assessment was illegal and in violation of the Carillon’s master declaration.
In 2016, the associations sued Z Capital over the legality of ownership structure for condo-hotel’s shared areas, as well as demanding access to financial records related to millions of dollars in previous assessments levied on unit owners.
The trial got underway this week, according to court records.
In May, the association for the Central Tower, which houses the Z Capital-owned units, sued the bank for failing to pay $94,000 in monthly maintenance fees.