Paul, Weiss secured a major victory on behalf of firm clients Barbara Slifka and various entities associated with a valuable commercial property located at 477 Madison Avenue.
Trustees of trusts for two of Ms. Slifka’s nephews had challenged her authority to act as the managing partner of the partnership that owns the fee to the property and her plans to sell the property. They filed suit in the Commercial Division of the New York State Supreme Court, raising numerous claims, including claims for alleged breaches of contract and fiduciary duty. After extensive oral argument on our motion to dismiss, Justice Joel Cohen dismissed all claims relating to Ms. Slifka’s authority, ruling that she indeed had the sole and absolute discretion to sell the building. A single claim for partnership information survived the motion.
The Paul, Weiss team included litigation partner Allan Arffa (Picture), who argued the motino, and counsel Adam Bernstein; real estate partner Peter Fisch; and personal representation partner Loretta Ippolito and counsel Jessica Soojian.
Involved fees earner: Allan Arffa – Paul Weiss Rifkind Wharton & Garrison; Adam Bernstein – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Loretta Ippolito – Paul Weiss Rifkind Wharton & Garrison; Jessica Soojian – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;
Clients: Barbara Slifka;