A New York appellate court has overturned an arbitration award in the Carnegie House ground lease dispute, giving shareholders another opportunity to pursue a fair resolution and challenge a proposed rent increase.
Haynes Boone Partner Brett Dockwell, who represented the Carnegie House shareholders, spoke with The Real Deal about the ruling and its implications for the parties moving forward.
Read an excerpt from the article below.
“I’m fully confident that an impartial arbitration panel would have come up with a dramatically lower valuation,” said Brett Dockwell, an attorney representing co-op owners. …
Now the co-op owners and landlords are “back to square one,” Dockwell said, and will resume negotiations on the value.
Read the full article from The Real Deal here.
