Real Estate Family – $500 Million Business Divorce
Represent a member of a prominent real estate family in a business divorce and estate mediation which involved the partition of approximately $500 million in real estate assets previously held by the family-owned business.
Specialty Food Retailer – Business Divorce Litigation
Secured a temporary restraining order on behalf of the co-owner of a specialty food retail business preventing partners in the venture from withdrawing company funds or transferring company assets prior to the resolution of ongoing litigation seeking dissolution of the business.
Registered Investment Advisor – Business Divorce Dispute
Herrick represented the co-founder of a successful mutual fund RIA in a business divorce dispute with his partner brought in Pennsylvania state court. After the parties agreed to submit their claims to arbitration, Herrick's client prevailed following a two week hearing. The arbitrator found that our client's ex-partner had breached his fiduciary duties, and made a substantial award to our client.
Special Master and Mediator – High Profile Real Estate Business Divorce
Acting as the court appointed mediator and special master for discovery in a high-profile business divorce involving 2 Herald Square, a large prominent “mixed use” building that is directly across the street from Macy’s Herald Square flagship store, and additional properties located in other states. The litigants include certain family members and other investors in a well known New York City based real estate company.
Represented a high net worth client in a very contentious dispute over a property they owned as tenants in common. We were able to settle the dispute with a buyout that was beneficial for both parties and allowed each party to go its separate way.
New York City Real Estate Portfolio – Member Disputes/Mismanagement and Self-Dealing Action
Represented the majority owners of a New York City real estate portfolio in an action commenced by minority members, obtaining the dismissal of claims seeking to hold the members personally liable for looting, self-dealing and diversion of corporate assets.
JMH Development – Dispute Over Luxury Residential Development
Herrick achieved a significant victory for JMH Development, the managing member in a joint venture created to develop a luxury residential development in Miami, Florida, in a dispute against PSB, the joint venture’s partner, who asserted false claims including breach of contract and fiduciary duty, among others. After a lengthy and contentious litigation culminating in a 3-day bench trial, the court ruled in favor of JMH Development on every single claim and issue and dismissed the case.
Joint Venture Partner – $40 Million Construction Agreement Dispute
Represented a joint venture in connection with disputes arising out of DEP construction agreements worth in excess of $40 million.
Business Dispute – Proposed Solar Farm Joint Venture
Successfully defended a New Jersey-based real estate company in litigation filed in New York state court by a potential joint venture partner in the development of New Jersey solar farm installations. When the venture never materialized, the plaintiff filed suit asserting breach of contract and tort claims, and seeking over $10 million in damages. Herrick obtained a dismissal of all claims against the client in the trial court, and won affirmation of the dismissal from the Appellate Division, First Department.
Former Owners of Acquired Business – Litigation to Recoup Monies Held in Escrow
Representing the former owners of a designer and distributor of mechanical and chemical fastening products acquired by a Fortune 500 manufacturer of industrial tools and household hardware in litigation to recoup monies held in an escrow account as indemnification payments for post-closing risks. Dispute involves issues related to import tariff and customs duties imposed by Canadian authorities on products imported by the acquired business from the Republic of China.
Religious Corporation – Control Dispute
Representation of the interests of an heir to the leadership of a major religious corporation in fending off a challenge from a rival faction for control of the community's institutions and organizations. In the Matter of Congregation Yetev Lev D'Satmar Inc., 31 A.D.3d 541 (2d Dep't 2006), aff'd, 9 N.Y.3d 282 (2007) and Congregation Yetev Lev D'Satmar of Kiryas Joel, Inc. v. Congregation Yetev Lev D'Satmar Inc., 31 A.D.3d 480 (2d Dep't 2006).
Real Estate Contractor / Investor – Partnership Dispute
Representing an experienced contractor and real estate investor in litigation with a former business partner over proceeds from the sale of two Brooklyn properties.
U.S. Company – Cross-Border – Partnership Dispute
Represent a leading U.S. company in relation to a commercial dispute between members of a global clothing wholesaler involving cross-border allegations of breach of contract, fraud, breach of fiduciary duty and trademark infringement.
Veteran NYC Developer – Partnership Dispute
Successfully represented veteran New York City developer as plaintiff in litigation filed in New York state court arising out of a dispute with former business partners over interests in a certain major New York City real estate development project. Herrick was able to resolve the dispute quickly, negotiating a settlement agreement on favorable terms for our client, which avoided protracted litigation.
Majority Shareholder – Successful Litigation for Control of Midtown Manhattan Property
Successful representation of a majority shareholder in a dispute with a minority stakeholder over control of a corporation whose sole asset was a valuable Manhattan property. Through litigation filed in New York state court, Herrick was able to secure the client control over a building located on prime midtown Manhattan real estate.
Law Firm Partner – Profits Dispute
Representation of a partner in a law firm against the firm in an arbitration concerning unpaid profits. A 15-day trial resulted in an award to our client of nearly $500,000.
Successful Prosecution of Breach of Operating Agreement in Real Estate Partnership
Represent international real estate investment firm in dispute with partner/co-owner of commercial building on Upper West Side over a contractually-negotiated share of leasing proceeds. On summary judgment, Court awarded all monetary relief demanded and declaratory relief in client’s favor.
Real Estate Partnership Dispute – Pre-trial Dismissal of Claims for Breach of Fiduciary Duty, Corporate Waste and an Accounting
Herrick negotiated a favorable settlement on behalf of a managing agent and its principals, resolving contentious litigation in New York state court between partners in a venture to develop and lease a medical office building. Prior to reaching the settlement, Herrick secured a number of advantageous rulings - including pre-trial dismissal of claims for breach of fiduciary duty, corporate waste and an accounting - which positioned our clients well in the negotiations that ultimately led to the partnership’s sale of its leasehold interest in the property on favorable terms, a transaction on which Herrick also advised.
Real Estate Investment Company – Litigation Arising from Failed Joint Venture
Representing a real estate investor and developer in litigation arising from a failed joint venture to acquire, own and operate a 50 percent tenant-in-common interest in fourteen valuable midtown Manhattan commercial properties. Dispute includes claims that our client's former partner breached a contribution agreement between the parties by selling the rights and interest in the acquisition to a third-party for its own benefit, misappropriating funds intended for joint venture purposes, and misappropriating a $46 million payment that it was not entitled to under the terms of the agreement.
Consumer Products Retailer – Partnership Dispute
Representation of three partners in a 'bet the company' lawsuit brought in New Jersey state court by the fourth partner, who claimed to be an oppressed minority shareholder. Herrick defeated the plaintiff's order to show cause seeking injunctive relief including the appointment of a receiver, and then obtained a dismissal of the lawsuit based on arbitration agreement.
Management Agent – Partnership Dispute
Negotiated a favorable settlement for a managing agent and its principals in a partnership dispute involving a real estate development venture in New York State. Prior to reaching the settlement, Herrick secured a number of advantageous rulings, including the pre-trial dismissal of three claims, which positioned our clients well in the negotiations that led to the partnership’s sale of its leasehold interest in the property.