Court rules in Peccole suits

Sun Capital Bureau

Monday, Aug. 25, 2008 | 6:35 p.m.

Las Vegas developer William P. "Bill" Peccole died in December 1999 but the legal battles over his estate continue. The Nevada Supreme Court has voided a $5 million judgment that favored consultant David Stoddart and his Jencar Development Corp. against the estate of Peccole and the trusts for his two daughters.

In the same decision today, the court overturned a $1.5 million judgment in favor of the Peccole estate and its executor Larry Miller against Stoddart and his corporation.

Stoddart claimed he reached an agreement in 1992 to develop and sell about 2,700 acres known as the Peccole Ranch Phase II. He claimed there was a breach of contract later. A district court jury in Las Vegas awarded Stoddart $33 million. But the district court reduced it to $5 million.

Peccole’s daughters Laurie Peccole Bayne and Lisa Peccole Miller were brought into the suits.

The Supreme Court ruled there was a lack of agreement on material terms and therefore there wasn’t a contract to be breached. The $5 million judgment was tossed.

In the second case, the estate and Miller, who is Peccole’s son-in-law, sued Stoddart claiming he falsely represented his credentials as an architect and violated the civil racketeering (RICO) laws. The estate won $1.5 million but the Supreme Court reversed that judgment, saying the evidence was insufficient to back up the claims.