October 18, 2007 – Crosby & Higgins LLP Helps Legal Team Secure Victory on $3.9 Million Dollar Specific Performance Claim Arising Out of Alabama Gulf Coast Beachfront Development Dispute.
October 18, 2007
Working together with a leading law firm in Alabama, Crosby & Higgins LLP has helped secure for its client the dismissal of a specific performance claim arising out of a dispute over 7.7 acres of undeveloped beachfront land on the Fort Morgan peninsula in Alabama’s Gulf Shores region. The lawsuit, originally filed in December 2005, concerned an option agreement related to the purchase of the client’s undeveloped beachfront property. The complaint alleged that Plaintiff possessed the option to purchase the client’s property for $3.3 million, plus certain additional payments that were conditioned on zoning, and that the client failed to close on the property pursuant to the terms of the agreement. The client in turn counterclaimed for breach of contract, rescission and other declaratory and equitable relief. After motion practice, Crosby & Higgins LLP and the Alabama legal team were able to successfully secure a dismissal of the specific performance claim, and the parties shortly thereafter entered into a settlement agreement that resolved the remaining claims and allowed the client to keep its valuable property.