A suit accusing Robert J. Ivanhoe, chairman of Greenberg Traurig’s New York office and head of its real estate group, of breaching his fiduciary duties to clients he represented in connection with a multibillion-dollar real estate project is on hold pending the outcome of an arbitration in California, a New York appeals court has ruled.
Last year, Manhattan Supreme Court Justice Richard B. Lowe III held that NAMA Holdings could bring a derivative action on behalf of Ivanhoe’s client, Alliance Network LLC, accusing the attorney of failing to disclose a financial stake in Blue Diamond Venture, a proposed 100-acre competing convention center and furniture showroom “just miles” from the World Market Center in Las Vegas.
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