Dispute between companies over busted $2 million real estate contract in court

NEW ORLEANS – The owner of several pieces of real estate is suing a company that entered into a $2 million contract, but later allegedly backed out and asked for the return of a deposit.

Turnbull Bakeries Inc. of Louisiana filed suit against Irish Properties Group LLC and Quality Titles Services LLC on April 9 in Orleans Parish District Court.

Turnbull Bakeries claims it entered into a contract in which Irish Properties would purchase various properties for $2 million. Under the agreement the defendant was required to provide a deposit of $25,000 that would bind it to all terms and conditions of the agreement. The plaintiff alleges that the contact stipulated that if the purchaser did not terminate the agreement within 30 days, the deposit would be forfeited.

Turnbull Bakeries asserts it offered an extension for 90 days to complete the property purchase but the defendant did not sign the agreement for the new contract for the extension. The plaintiff contends that after the initial 30 day period was up, Irish Properties requested cancellation of the contract and the return of the $25,000 deposit. Subsequently, the plaintiff has requested the court to determine who the $25,000 rightfully belongs to.

The defendant is accused of breach contract.

An amount of $25,000 in damages is sought to return to the plaintiff as being the rightful property of the plaintiff, attorney fees and all general and equitable relief deemed proper by this court.

The plaintiff is represented by attorney John J. Burke.

The case has been assigned to Division E Judge Clare Jupiter.

Case no. 15-3350.