Opinion ID: 3063949
Heading Depth: 3
Heading Rank: 5

Heading: The Kobarid Litigation

Text: What became of the Hawksbay ten million and whether Reizen misappropriated it was the subject of another Southern District of Florida case, Kobarid Holding, S.A., et al. v. Reizen, Case No. 03-23269 (“Kobarid”). In that case, the following entities sued Reizen to recover the Hawksbay ten million: Kobarid, Sitindustries, Tambourine, and Hawksbay. The defendants in this case served as defense counsel for Reizen in Kobarid until they were disqualified, based on their previous representation of Tambourine in 1999. Kobarid was decided on June 14, 2006, when the jury in that case found Reizen liable to Hawksbay for 9 breach of fiduciary duty, fraud, fraudulent concealment, conversion, civil theft, and aiding and abetting breach of fiduciary duty, all on account of his management of the Hawksbay ten million. After a jury verdict in Hawksbay’s favor, the court entered final judgment for Hawksbay for over thirty-nine million dollars on June 16, 2006. The jury did not find in favor of any of the other plaintiffs. On August 9, 2006, Solowsky transferred the remaining $1,456,775.78 in the Gibraltar account to Hawksbay.