Klehr Harrison Wins Over $4 Million for RTN Investors, LLC

On February 10, 2011, in a 42-page opinion, Judge Jan Jurden of the Delaware Superior Court awarded $4,161,972.32 in damages, plus attorneys’ fees and costs, to Klehr Harrison client RTN Investors, LLC.  The case involved a loan by RTN (a group of Florida investors) to a developer and his company for the purpose of forming an investment fund in Germany and acquiring a Munich broadcast facility.  The defendants promoted the launch of the first “24/7 Real Estate Television Network” targeted at Europeans seeking to buy real estate in the United States.  The defendants brought lender liability counterclaims against RTN, alleging that our client’s suspension of funding was the cause of the project’s failure.  During the bench trial which spanned several days in late 2009 and 2010, there were a number of unique issues including whether RTN consented to delay the project during meetings in Munich due to favorable changes in the German tax laws.  Klehr Harrison Wilmington partner, David Eagle, was the lead trial lawyer on the case.