InnoVida Placed in Receivership

Attorney Kendall Coffey, who is handling Chris Korge’s lawsuit, said receivers have taken over operations of a company as dictated by a court order. The receiver, appointed by Miami-Dade County Circuit Judge Valerie MannoSchurr, comes in response to a request from developer and attorney Chris Korge, who alleges that Osorio fraudulently misappropriated $4 million. The judge appointed Mark Meland, a partner at MelandRussin&Budwick in Miami. Two other investor lawsuits have been filed against Osorio by his neighbors on Miami Beach’s Star Island. Miami Beach businessman Claudio Osorio’s company, InnoVida Holdings, InnoVida and its subsidiary, InnoVida Services, manufacture affordable housing construction components from a fiber composite.InnoVida made headlines last year when it announced it would donate 1,000 small homes to Haiti following the disastrous earthquake in January 2010.

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