Oh, the humanity of it! - Mai Kai closing?!?

OHMG - The Mai Kai is in foreclosure!

http://www.miamiherald.com/884/story/163023.html

What hath god wrought?!?

Oh, the humanity of it! - Mai Kai closing?!?

Umm, come in off the ledge. A complaint is quite a way's from actual foreclosure or closing of the Mai Kai. Not that a hyperbolic headline ever got in the way of getting one's message read, eh?

It's a simple foreclosure suit following a breach of a promissory note. The plaintif/lender has, ostensibly, no other recourse. I don't know all the particulars, but I could hazard a few guesses. However, seeing I am a golfer I try to avoid hazards. That, and the good Lord saw it fit to not force me into a career in Florida Law (Goofy is a resident there for good reason). I will say, the note is apparently destroyed and that makes it interesting but in no manner fatal for the plaintiff. Also somewhwat interesting is Mr. Levy's approach to business/taxes/litigation, but that's for the advanced class.

Notwithstanding Levy's apparent confusion it is rather simple. In essence: valid note, proven breach, security = pay up (through a work-out/re-finance/FMV sale) or see you on the courthouse steps.

Not the best publicity, though. Still, no one's going to jail, Karen.

To making laws and sausage one may add running a tiki landmark,
midnite rests

Hmmm... According to the story, the restaurant "resembles an elaborate tiki bar". I should check it out.

Next time I'm sued, midnite's on my side. Mmmmmm... sausage.

Who's Karen?

On 2007-07-10 13:46, TikiLaLe wrote:
Who's Karen?

She's Virginia's sister...

Who's married to Toms brother !

...and where does that secret door lead to? (insert mysterious music here)

OK, everyone relax. The Mai-Kai is not going anywhere. It will still be there for the next Hukilau.

The article, while not the best of press for the Mai-Kai, ran in the back of the physical paper and was not even 'above the fold.'

And, it does indeed resemble an elaborate tiki bar and also seats 716 people (more if your friendly).

And, for anyone else who looks at the menu and gets the idea that the place is raking in cash hand-over-fist and that the place is therefore a cash-cow worth sueing.... take a look at the staff, the gardens, the location, the electric bill, etc. Yes, the place is profitable, duh, because it is still open. Is the place an easy target for some casual lawsuits, no.

Now, everyone go back the bar and order your second round. The Mystery Girl will be out shortly.

Dave Levy and Mireille Thornton are two of the nicest, warmest people and friends you'll ever meet. And scrawling a man's personal business, public record or not, across a newspaper page is a lousy, lowdown way for the Miami Herald to go. It stinks, and the paltry view of a national treasure like the Mai Kai demonstrated by their paper stinks, especially over a chintzy, garden-variety legal matter. It all reeks of estate bicker and penny digging by heirs, as is usually the case. They can chase the little note and bop it about in it's tiny corner, but if there's a judge in the country that would flop that into a lien or foreclosure on a multi-million dollar corporation and employer of 200-plus citizens of Broward County based on that small a fraction of it's shared value then I'm the future Czar of Russia. Mai-Kai all the way. It ain't 'goin anywhere.

I was gonna sue them for making me too warm at Hukilau but I had a couple of Rum Barrels and forgot.