Companies that own two medical office buildings in Hamburg, N.Y., are clashing in court over alleged mismanagement, according to an Aug. 29 report from Buffalo Business First.
Building owner Camp Road SRR has sued developer F. James McGuire and several of his affiliated companies, alleging Mr. McGuire has "mismanaged the companies and their respective real estate developments."
The lawsuit is an extension of ongoing negotiations over the two office buildings, according to the report.
The managing member of Camp Road SRR is Kristen Robillard, MD, of Lakeshore Primary Care Associates.
Camp Road owns a 70% stake in both buildings, while McGuire's companies own 30% but have served as the managing member for both properties.
The lawsuit alleges Mr. McGuire's companies "committed self-dealing, wrongfully distributed assets, charged inflated or excessive fees without the consent of the plaintiff, overpaid vendors for services by companies owned or controlled by the Defendants, usurped company opportunities and failed to account the plaintiff."
Camp Road is seeking monetary damages and a court order that would remove Mr. McGuire's control of the properties, as well as a full accounting of the properties' finances.
Mr. McGuire denies the allegations and claims Camp Road SRR recently turned down an offer from a national company to buy the properties, the report said.