A former employee of MIG Realty Advisors Inc. claims he is owed more than $700,000 in commissions for marketing services that resulted in the $2.1 billion Philadelphia Municipal Pension Fund hiring MIG as a real estate manager.
The case will go to trial May 20 in Philadelphia Court of Common Pleas.
Enrico Campitelli of Havertown, Pa., alleges MIG, West Palm Beach. Fla., fired him in August 1989 without cause and without paying him commissions he earned for getting the Philadelphia pension fund to invest with the real estate manager.
MIG President Larry Wright said through a spokeswoman that Mr. Campitelli's complaint is a nuisance suit.
Mr. Campitelli has introduced as exhibits two apparent contracts with MIG and Mortgage Investors Asset Management Inc., an affiliated company, that detail how he was to be compensated for bringing in business from pension funds.
Mr. Campitelli alleges MIG breached these contracts on two occasions: on Sept. 22, 1986, the company failed to employ him full time at an annual salary of $50,000 after he obtained the Philadelphia account for MIG (the company apparently did hire him full time in July 1987, according to documents); on Oct. 12, 1987, when the company failed to pay him a commission of 10% of gross fees generated by accounts he originated, including the account placed with the Philadelphia pension fund.
Mr. Campitelli estimates the Philadelphia system invested more than $70 million with MIG, and he is due at least $700,000.
