HOUSTON — A minority shareholder of two hotels in Midland claims the owners failed to make income distributions.
Amtuz Azad and Natasha Beale frequently known as Natasha Azad filed a complaint Dec. 6 in Harris County District Court against Midland Platinum LLC, Midland Platinum II, LLC and Mitul V. Patel alleging breach of contract, breach of fiduciary duty and other claims.
According to the plaintiffs' complaint, the defendants own and operate the Hampton Inn and Courtyard by Marriott located in Midland. Beale was an investor in Midland Platinum and Midland Platinum II with Azad serving as her agent and assigned her interests to Azad in January of 2019, according to the suit.
The plaintiffs claim that during each year of operation, the defendants falsely reported the payment of income to them as minority shareholders and that Beale received statements reflecting payments of income which were never paid to her and which she was required to pay taxes on to the IRS. The plaintiffs also claim they were not given income distributions on an annual basis per the defendant's operating agreement.
The plaintiffs seek monetary relief between $250,000 and $1 million, interest and all other just relief. They are represented by Shawn Grady of The Law Firm of Shawn M. Grady PLLC in Houston.
Harris County District Court case number 2021-79151