Thomas Kramer’s Star Island homes fall into receivership

 

icordle@MiamiHerald.com

A receiver was appointed on Tuesday for Thomas Kramer’s multi-million homes at 4 Star Island and 5 Star Island in Miami Beach, as the once high-flying German real estate developer’s financial troubles worsen.

Mark S. Meland, of Meland Russin & Budwick, was named receiver, to take custody of the property and oversee any funds collected from rents, profits and income from the property, and attend to other issues, such as paying taxes and making repairs, according to documents signed by Miami-Dade Circuit Court Judge Daryl E. Trawick.

The move relates to litigation that dates back 20 years. In a 226-page deposition taken on Dec. 17, 2013, Kramer said he was financing his lifestyle and upkeep on his Star Island mansion through a convoluted series of wire payments. Kramer’s funds at numerous banks in England, as much as 15 million pounds (equal to $24.9 million) in 2000, have been frozen, related to the Swiss judgment that stemmed from real estate disputes between Kramer and Siegfriend Otto, who died in 1997. His daughters and heirs, Verena Von Mitschke-Collande and Claudia Miller-Otto inherited the judgment, which was affirmed as enforceable by high-level Swiss courts and then the Circuit Court of the 11th Judicial Circuit in Miami-Dade in 2007.

Kramer built and moved into 5 Star Island in 1995 and bought 4 Star Island about a year later, and had used it as his office. The homes were transferred to an entity called Skipworth that has taken out a $12 million mortgage from a Swiss lender. The plaintiffs, represented by Charles Throckmorton of Kozyak Tropin & Throckmorton, also hold two mortgages on the properties, according to a transcript of the deposition. Miami-Dade records show Kramer owes almost $2.2 million in property taxes.

“It means we’ll have an independent fiduciary in charge of the property to protect it, which addresses concerns we’ve had for some time,’’ Throckmorton said. “The concerns relate to insurance and security, among other things.’’

Read more Business stories from the Miami Herald

  •  
Jacinto Garrido’s mother died in 2010. Garrido filed a complaint against her doctor.

    Healthcare

    State seeks harsher penalty against Miami physician

    Department of Health officials intend to appeal a final order by the state Board of Medicine, which in June voted to revoke a Miami physician’s license — then minutes later reversed its ruling and reduced the penalty.

  •  
Aeromexico will add a fourth weekly flight between Miami and Merida starting Nov. 8

    Aeromexico adds fourth weekly Miami-Merida flight

    Aeromexico announced this week that it will add a fourth weekly flight between Miami and Merida, the capital of the state of Yucatan, this fall.

  • Memorial Regional Hospital’s heart program accredited

    Memorial Regional Hospital in Hollywood recently earned certification from The Joint Commission, the nation’s largest healthcare accrediting group, for a cardiac therapy program designed to treat patients with end-stage heart failure who are not eligible for a transplant — making Memorial the first hospital in Broward County to receive the designation.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category