Palm Coast Data, once one of the city’s largest employers, is being forced to lay off 80-100 workers due to declining revenue. The company was also recently embroiled in a high stakes, high profile commercial eviction lawsuit in which they were represented by Loren & Kean Law partner, Michael Kean.
The Daytona Beach News-Journal recently interview Michael Kean about the status of that eviction lawsuit and the company’s decision to lay off almost a quarter of its workforce. He informed the news agency that a settlement agreement had been reached that resolves all financial terms and includes giving the company until August 15 to vacate its buildings at 2 and 11 Commerce Blvd.
“We believe this provides us with more than sufficient time (to find a new home),” he said. He said his understanding is that the company would prefer to remain in Palm Coast but said, “all options are on the table.” – https://www.news-journalonline.com/business/20200520/palm-coast-data-planning-80-100-layoffs
Palm Coast Data was sold to Ireland-based Studio Media in April 2019. An eviction lawsuit was filed in early 2020 by two subsidiaries of the company that formerly owned Palm Coast Data (Amrep Corp.). Palm Coast Data responded by accusing its former owners of “fraud” and deceptive maneuvers last April, saying its balance sheet was not at all what its former owners claimed it had been at the time of the sale, and asserting that had the new owners “known the true state of facts surrounding Palm Coast [Data, they] would not have purchased Palm Coast [Data] and would not have entered into the subject lease.”(flaglerlive.com).
In March, a motion to prevent the final judgment absent a hearing was filed based on the fact that Flagler County’s Circuit Court had reduced dockets to “mission-critical proceedings” amidst the coronavirus emergency. A final hearing was scheduled for mid-April, but the parties reached a settlement and avoided the hearing. In the recent interview, Palm Coast Data’s attorney, Michael Kean, said “payments were exchanged” in reaching a settlement between his client and AMREP. He said he was not at liberty to disclose the amount paid.
Loren & Kean Law is one of the leading law firms in South Florida in the areas of Construction Law, Business and Real Estate Litigation (including Commercial Landlord/Tenant matters), Employment Law, and Factoring Litigation. Their clients know and rely upon their ability to consistently deliver high-quality legal services and innovative and pragmatic business solutions in a timely and cost-effective manner. Their team’s top priority is resolving clients’ cases quickly and efficiently. Loren & Kean remains committed to doing whatever they can to give their clients the best service and results possible. Michael Kean can be reached at (561) 615-5701 or directly at (954) 474-7200.