The state court of appeals has reversed an Horry County jury’s ruling that a private equity firm manager purposely interfered with two agents’ agreements with Advantage Real Estate, Inc., to sell real estate.
The court’s opinion filed Wednesday states that the evidence did not show Howard Jacobson intentionally interfered with James Broach’s and Mark Loomis’ contractual relationships with Advantage, which specialized in resort property in the Myrtle Beach area. The evidence also did not support awarding Broach and Loomis punitive damages, according to the opinion. The court reversed the punitive damages awarded against Jacobson.
Broach and Loomis sued Advantage’s then broker-in charge Eugene Carter and Jacobson in 2008 to collect unpaid real estate commissions, according to court records. At the time, Broach and Loomis worked as independent contractors for Advantage to obtain sales of various properties, including condominium units - The Horizon at 77th in Myrtle Beach - to be built by Paradise Grande, LLC. Jacobson was the manager of SilverDeer Management, LLC, which managed Paradise Grande.
Broach and Loomis worked for several years obtaining presales, sales and closings of condominium units at Horizon, the opinion stated. They claimed they were owed sales commissions from the sale of condos at Horizon.
The case - which looked at the various agreements between the parties - ended in a jury trial in 2010 where Broach was awarded a combined $371,482.78 from Carter, Advantage and Jacobson. Loomis was awarded a combined $143,835.96 from Carter, Advantage and Jacobson.
Jacobson - who was ordered to pay Broach and Loomis $100,000 each - appealed the jury’s decision, stating there was no evidence showing he was personally liable on behalf of Paradise Grande or deliberately interfered with Broach’s and Loomis’ contractual commitments with Advantage. That appeal was heard by the state court of appeals in April.
Myrtle Beach home improvement, outdoor living show looking for exhibitors
The Horry Georgetown Home Builders Association is accepting applications for exhibit space for the Second annual Home Improvement & Outdoor Living Show.
The home improvement show will be held Sept. 14-16 at the Myrtle Beach Convention Center, 2101 N. Oak St.
Anyone interested in being an exhibitor should email Rose Anne O’Reilly at email@example.com.
Children can show off talents, raise money for charity through home improvement show
Children 12 years old or younger will have the chance to showcase their talents during the second annual Home Improvement & Outdoor Living Show.
Showcase 4 Kids is a talent show to raise money for Help 4 Kids’ Back Pack Buddies program, which gives children in need backpacks filled with food for the weekends.
The talent show will be at 2 p.m. Sept.16 at the Myrtle Beach Convention Center, 2101 N. Oak St.
Parents interested in entering their children in the talent show should contact Rose Anne O’Reilly at 438-4124.
The entry fee is $50 and is tax-deductible.
Contact JANELLE FROST at 443-2404.