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New York

L&L revokes claims against Barclays at 475 Fifth Avenue

L&L Holdings withdrew its claims Wednesday against Barclays Capital Real Estate for breach of contract over a deal relating to the purchase rights to 475 Fifth Avenue, Crain’s reported. Its
reasons for abandoning the claims could not be immediately determined.


L&L previously filed court action alleging that it had been deprived of its right to first offer on the 24-story property, which it managed on behalf of Barclays for almost two years before being replaced last month by CB Richard Ellis.

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“Plaintiff L&L Holdings Co. hereby discontinues the action without prejudice and without costs to any party as against another,” the court filing states.

Last month, Barclay’s told Crain’s that it had acted in good faith. L&L, it said, had chosen not to accept the offer before the right of first offer period expired April 24, 2011. [Crain’s]

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