Two South Florida condominium association bankruptcy filings from the last several months reaffirm how litigation costs and losses can lead to financial ruin for associations.
The most recent of these was filed on Jan. 28 in the U.S. Bankruptcy Court for the Southern District of Florida by the Palm Greens at Villa Del Ray Recreation Condominium Association, which oversees a Delray Beach community for residents 55 and older.
According to the filing, one of the community’s two condominium towers failed to pay its assessments for seven months in 2024, leading a state court to ultimately compel payment…