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Force 10 Partners

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Engagement

AML v. Idanta

Monetary damages expert in relation to aiding and abetting breach of fiduciary duties

Tenancy In Common (TIC) Fund.

Industries

  • Real Estate

Expertise

  • Expert Witness
  • Litigation Support

From the newsroom

  • Force Ten Partners’ Expert Testimony results in Victory for VC Firm

Served as Expert Witness in retrial for defendant Idanta Partners, Ltd. in Los Angeles Superior Court against claims by American Master Lease LLC for aiding and abetting a breach of fiduciary duty. Jury awarded $0 in damages.

American Master Lease LLC was established in 1998 to invest in real estate using an investment strategy known as 1031 FORT (Fractionalized Ownership in Real estate Tax deferred). AML and its members agreed to a noncompete provision which prohibited the sale of AML Products to other businesses and the direct or indirect competitive business without the approval of a Majority In Interest of the Class A and Class B Members. One of the members decided to open up a competing entity in 2004 called FORT Properties, Inc. (FPI) and purportedly received a grant to use AML’s products. AML discovered that the license granted to FPI was not authorized and members of AML breached their fiduciary duties under the operating agreement. FPI cancelled their license agreement with AML and began doing more transactions under the same investment strategy with investor, Idanta. In 2007, AML filed an action against the Idanta defendants alleging aiding and abetting breach of fiduciary duty and interference with contract. Force 10 was brought on to be the expert witness for the defendants, Idanta. Our responsibility was to analyze the amount of unjust enrichment that should be awarded. Following a nearly three-week retrial, the jury returned a complete defense verdict and awarded the plaintiff nothing.

Team members

Adam Meislik

Adam Meislik

Force 10

Track Record

Alpha Guardian: Confirmation of Chapter 11 Plan of Reorganization

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KP3 Endeavors: Opposition to Involuntary Chapter 7

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AirFastTickets: Confirmation of Chapter 11 Plan of Reorganization

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Force 10 effectively balanced industry expertise with on-the-ground management insights.
Mimi Hall
Chairperson, Pajaro Valley Healthcare District Project

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Force 10 Partners
Force 10 Partners
5271 California Ave., Suite 270
Irvine, CA 92617
949 357 2360
contact@force10partners.com
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