Delray Holding, LLC v. Sofia Design & Development at South Brunswick, LLC

The opinion of the court was delivered by

ASHRAFI, J.A.D.

Appellants are individuals and a family trust that invested in two real estate development companies, Sofia Homes, LLC (Sofia Homes) and Sofia Design & Development at South Brunswick, LLC (Sofia Design) (jointly the Sofia Entities). The companies failed financially and were forced into bankruptcy proceedings. In the course of the bankruptcy case and other litigation, the Sofia Entities settled claims against respondent Roger Passarella and two real estate development companies that he owns, respondents Delray Holding, LLC, and Bay Dock…