New York REIT Liquidating LLC filed a lawsuit Wednesday in Delaware Court of Chancery to resolve a $90 million dispute with a former business partner over funds placed in reserve in a real estate investment transaction. The plaintiff, which is in liquidation, is represented by Debevoise & Plimpton; Kluger, Kaplan, Silverman, Katzen & Levine; and Ashby & Geddes. The lawsuit names WWP JV LLC, which claims that releasing the funds would breach obligations related to the parties' 2017 LLC agreement. Counsel have not yet appeared for the defendant. The case is 2022-1201, New York REIT Liquidating LLC v. Wwp JV LLC.
Delaware
December 28, 2022, 10:58 AM