A Florida company has returned to federal court, seeking to enforce an arbitration award requiring San Antonio lawyer Edward Valdespino to deposit $5 million into the Bexar County court registry after he allegedly missed a deadline to do so.
Boca Raton, Fla.-based I.C. Deposits Development Inc. alleges it transferred the $5 million into Valdespino’s lawyer trust account last year to be held in escrow pending a private investment transaction. It says the deal never closed, and Valdespino never returned the money.
Last month, after U.S. Magistrate Judge Richard Farrerruled the dispute belonged in private arbitration, emergency arbitrator Murry Cohen ordered Valdespino to deposit the $5 million into the registry of the Bexar County court by 5 p.m. Monday…