Developers Bruce Rendina and George deGuardiola, however, appear to have won the first round. They already have been paid $300,000 from a letter of credit that locally-based Bankrate Inc. issued to a local bank to guarantee the space at the Abacoa Business Park in nearby Jupiter, FL. Now the developers are suing for an additional $500,000 plus legal fees.

Their two lawsuits allege Bankrate breached the lease contract and another contract to buy 2.15 acres adjoining their planned headquarters site. The online publisher of bank rates and personal finance information, however, contends the office space wasn't ready in time, voiding the contract for the space and the land acquisition. The defendant's $60,000 deposit on the land deal is in escrow until the lawsuit is resolved.

Bankrate Inc. was formerly called ilife.com. The company completed a $45 million initial public offering earlier in the year but revenue and profit never reached projections. The company has been operating under new management.