On May 21, a Riverside Superior Court jury returned a complete and resounding trial victory for Larson client and California real estate investment company Southland Equities, ending an eight-week trial.
Portero Commercial and its principal Scott Krentel had sued Southland Equities, GKL, and their principal Gary Leff for nearly $200 million based on claims for breach of contract, slander of title, and fraud; in return, Larson filed counterclaims for fraud, negligent misrepresentation, breach of contract, and breach of the implied covenant of good faith and fair dealing.
The jury’s verdict rejected all of plaintiff Portero’s claims, while awarding Southland Equities $30 million for its counterclaims. Portero and Krentel are represented by former Riverside County District Attorney Rod Pacheco of Pacheco & Neach and Andrew Prout of Ross, Wolcott, Teinert & Prout.
The complex and contentious real estate dispute arose from Southland Equities’ 2018 loan and subsequent loan modifications for improvements to Riverside County land owned by Portero, and a separate purchase and sale agreement for the land. After Portero failed to obtain required entitlements, the purchase and sale agreement collapsed, and Portero failed to repay the loans and asserted claims seeking damages from Southland Equities.
The Larson trial team included partners Stephen G. Larson, Hilary Potashner, John Lee, Catherine S. Owens, and Georgina Wakefield, counsel Andrew S. Bledsoe, associates Ashley Amell, Anthony Gutierrez and Alexis Calin, and paralegal Anthony Gooneratne.
Portero Commercial v. Southland Equities, Case No.: CVRI2302814