Fashion Mall renovator moves to boot minority owner

Fashion Mall
Fashion Mall

The Chinese majority owner of a company planning a $300 million Fashion Mall makeover in Plantation is back in court trying to dump the minority owner , who is also project manager on the renovation.

Attorneys for Zhen Zeng Du asked Broward Circuit Judge Jack Tuter to dissolve a Mapuche LLC and allow his son to replace minority partner Wei Chen as project manager, according to the Daily Business Review.

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Du alleges that his partner in the Fashion Mall renovation lost some $50 million in project funding by trading on the Australian stock market.

Chen’s attorney, Benjamin Olive of Hackleman Olive & Judd in Fort Lauderdale, argued that Du relied on the third amended agreement when he sued Chen first in federal court. The agreement contains a “judicial dissolution waiver,” meaning a court cannot dissolve the company.

In May, U.S. District Judge James Cohn in Fort Lauderdale dismissed the case for lack of jurisdiction because one party is Chinese and the other a U.S. citizen. [Daily Business Review]Christopher Cameron