More details have emerged on how the alleged failed transactionsinvolving Delta Community Credit Union led to a judge awarding thereal estate developer involved $75 million.
According to the suit filed by David R. Pearson in 2010,Delta Community allegedly backed out of a $30 million deal thatwould have allowed the real estate developer to purchase severalproperties along Florida's Gulf Coast from lenders that wanted tosell them.
Pearson alleged the credit union's breach came about when itdeprived him of funds to finalize the acquisition of twoproperties, according the lawsuit. Pearson said $100 million hadalready been invested in NatureWalk, a Florida community of 278single-family lots.
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