Trial Attorney Alec Waid recently took a case to a binding arbitration and won big! Our clients–a business and three of its members–owned a $3.2 million beach-front property in Pinellas County. However, the fourth member and sole manager unlawfully transferred the property away from the business and into an LLC owned exclusively by him so that he could take all of the rents from the property for himself. Therefore, not only did he steal the $3.2 million value of the home but also the rents from the property over the five years he held it as the exclusive owner.

The case was ordered to binding arbitration. A binding arbitration is essentially a private trial in front of a neutral arbitrator who acts as the judge and jury in the case. Evidence is presented and witnesses testify just as if it were a jury trial. The main difference is the arbitrator will make the final decision on responsibility and remedies (e.g., damages).

Alec tried the case in front of the arbitrator and was able to help his clients tell their story, present expert testimony, as well as cross examine the defendant to expose his fraudulent behavior.

Ultimately, the arbitrator made the right decision and ordered that our clients regain their interest in the $3.2 million home. On top of that, the judge ordered that the defendant pay our clients nearly $1m in damages and reimburse them for their attorney’s fees they spent fighting for the property back.

Prior to the arbitration, the settlement discussions did not even come close to what was awarded at arbitration. This case is a testament to the fact that, if you or your business have been wronged, it is important to hire a skilled and experienced trial lawyer who is not afraid to go to bat for you and fight for the best outcome possible.