Firm Secures Victory for Commercial Real Estate Clients
On October 13, 2020, Patterson Belknap secured a significant victory for our commercial real estate clients in a lawsuit filed in the Commercial Division of New York State Supreme Court.
The lawsuit alleged that the clients breached subordination agreements and four separate guaranties executed by the clients’ principals, when the manager of twenty-eight different commercial real estate properties filed suit against the property-owners for non-payment of management fees.
At the conclusion of a lengthy oral argument on October 13, Justice Andrea Masley of the Commercial Division dismissed the complaint filed against our clients in its entirety, holding that the agreements had not been breached by the property manager’s separate lawsuit against the property owners.
The Patterson Belknap team was led by Muhammad Faridi, Jacqueline Lash, and Isaac Weingram.