Oxford Street Properties, LLC v. Rehabilitation Associates, LLC, Fedora Investment Corp.
Published: May 2, 2009 | Result Date: Apr. 10, 2009 | Filing Date: Jan. 1, 1900 |Case number: 1220037548 Arbitration – $29,100,000
Court
Arbitration Forum
Attorneys
Plaintiff
Raquel Vallejo
(Mark R. Weiner & Associates)
Defendant
Thomas A. Nitti
(Law Offices of Thomas A. Nitti)
Facts
Oxford Street Properties LLC (Oxford) brought an action against Rehabilitation Associates LLC (Rehabilitation) and Fedora Investment Corp. (Fedora). Oxford claimed that the defendants engaged in fraud, economic duress, and breach of fiduciary duty in connection to their actions with respect to a historic renovation project in downtown Los Angeles' Gallery Row. Rehabilitation and Fedora counterclaimed for fraud and construction defect.
Result
The arbitrator awarded the plaintiffs $29.1 million. The arbitrator rejected the fraud counterclaim and found the construction defect counterclaim to be mooted by his grant of Oxford's rescission claims. According to defense counsel, the arbitrator cancelled the rescission award contained in his partial final award, and awarded damages instead in his final award. The plaintiffs have applied for a correction of the damage award amount and the correction is pending. The final award has not yet been confirmed by the court.
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