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Commercial Disputes

Ayala’s Client Sues Spanish TV Station SUR, and others, Over Five Million transfer of Assets and Mismanagement

The plaintiff, Fondo de Inversión Stella, is an investment fund where the Institute of the Brothers of the Christian Schools (the Brothers), a religious congregation, is a participant.

Since 1999, Lizardo Vargas, one of the defendants, convinced the Brothers that the best way to invest their assets was through a fund he managed.

Vargas’ investments included the purchase of 15% SUR Corp (SUR) stock, the entity that controls the Spanish TV network SUR. The estimated value of the stock was around $5,250,000.

After the Plaintiff’s request to SUR for an accounting of its investment was declined, Ayala filed a lawsuit in Dade County Circuit Court, for breach of fiduciary duties, accounting, and unjust enrichment among others.

A copy of the complaint filed can be found here: Complaint

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