Village attorney reports Palm Beach Polo hearing rescheduled; about $9.3 million cash bond held in escrow

The Village Attorney provided an update on litigation involving Palm Beach Polo and the escrowed cash bond held by the village.

Counsel said a previously scheduled hearing on Palm Beach Polo’s motion to stay release of the funds was canceled by the court and has been rescheduled for April 1. The village also had sought a separate order to show cause regarding whether the escrow agent should be held in contempt; that hearing will need to be scheduled separately because the parties and judge had limited availability.

Counsel reported the amount currently being held is roughly $9.3 million and noted court interest accrues; the judge’s scheduling constraints have delayed hearings. Counsel said if the court denies the motion to stay, the funds would need to be released; if the stay is granted, the result could affect the village’s pending contempt motion and related proceedings. Counsel also said the village is monitoring the sufficiency of the bond and would seek an increase if necessary to protect village interests.

Council members asked about scheduling constraints and the possibility of further postponement; counsel said the judge could postpone again but the motion to stay is currently set for April 1. No new court rulings were announced at the agenda‑review meeting.