Adam Leitman Bailey represents owners at 20 Pine (left) and Stephen Ross (top right) is locked in an ILSA dispute with buyer Vasilis Bacolitsas (bottom right)
From the December issue: Not everyone has the stomach for a lawsuit — taking an otherwise private disagreement into the public realm and submitting it to the cool evaluation of the court.
But sometimes situations are untenable, and parties consider judicial intervention the only recourse. The resulting lawsuits can have a broad impact, reaching beyond the businesses involved to encompass the industry as a whole.
Consider the condominium contract dispute that could affect the way New York City developers handle purchase agreements for new condos. Or the suit between residential brokers whose failed alliance could become fodder for a jury trial. Or a federal agency’s offensive against a slew of major banks over mortgage-backed securities. [more]
