Miami-Dade Court Rules Against 777 Partners Over Event Fees

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News Summary

A Miami-Dade County Court has ruled that 777 Partners owes The Boca Raton over $800,000 in unpaid event fees from a January 2023 event. The court ordered garnishment of the firm’s bank accounts, while 777 Partners faces additional legal troubles, including an eviction lawsuit. As the situation unfolds, it highlights the importance of adhering to contractual obligations.

Miami-Dade County Court Delivers Blow to 777 Partners in Event Fee Dispute

In a significant turn of events, a Miami-Dade County Court has ruled in favor of The Boca Raton, ordering the private equity firm 777 Partners to cough up over $800,000 in a lengthy legal tug-of-war over unpaid event fees. The spat stems from an extravagant $1.5 million event hosted by 777 Partners back in January 2023, and things have only heated up since then.

The Details of the Ruling

The court’s ruling requires 777 Partners to pay a total of $808,000, which breaks down to $556,400 in damages and $251,300 in interest. Yep, interest! That amount has been racking up at a hefty annual rate of 18% due to the firm’s late payments.

What’s more, the court has taken steps to enforce this judgment by issuing garnishment orders against 777 Partners’ bank accounts held at City National Bank of Florida and Goldman Sachs. Reports indicate that 777 Partners has nearly $350,000 sitting in accounts at City National Bank. Meanwhile, Goldman Sachs appears to be keeping mum on their end regarding the garnishment order.

Background of the Lawsuit

The trouble began when Boca Owner LLC, the parent company of The Boca Raton, filed a complaint against 777 Partners last August, accusing them of breach of contract. This breach occurred when 777 Partners allegedly defaulted on the final installment for the event bill, which was due back in December 2023. The lawsuit revealed that although the firm made some partial payments, they didn’t settle the full balance, which at the time exceeded $727,000 plus a monthly interest rate of 1.5%.

777 Partners’ Ongoing Troubles

legal disputes. Among these concerns is an eviction lawsuit concerning their headquarters located at 600 Brickell. This situation is compounded by the fact that the court previously supported a default judgment motion against 777 Partners on January 27 after they failed to respond to the eviction complaint.

The saga continues, as a spokesperson for 777 Partners has not answered any queries related to this ongoing legal strife. Adding to the mystery, the company’s website is currently inactive, and its phone number is out of service. It raises questions about the company’s status and what’s next in this unfolding drama.