A client of MDG, LLC, Applecross Country Club, owned by Bob Levy, Jr., was recently awarded $20mm in damages by a Chester County Court -the second largest in its history, and MDG was an integral part in achieving the result. Applecross brought suit against Pulte Homes for breach of contract. The original purchase of the Applecross golf course property by Mr. Levy, was based on an understanding that Pulte would build a community of over 1000 homes around the country club. When Pulte decided not to build the promised number of homes, it left Mr. Levy, and Applecross, without a large source of potential golf club members. MDG managing partner, John Mitchell CPA/ABV/CFF, CVA was retained to help assess damages for the suit. Working with a real estate appraisal firm specializing in golf course properties, Mitchell’s report formed the underlying basis for the jury award of $20 mm. In testimony, John Mitchell outlined the case for the jury, detailing the breach and how the resulting damages had been determined. The jury found in Applecross’s favor and accepted Mr. Mitchell’s damage calculations.
This partnership approach clearly demonstrates how MDG’s expertise helps build success. For information on how MDG can help your company as well, click here.