Mall Co. DDR Says Partner's $500M Suit Barred By Prior Ruling

Law360, New York (March 22, 2012, 2:12 PM EDT) -- DDR Corp. said Thursday that an Ohio court decision precludes a $500 million suit in New York state court against the shopping center owner for allegedly mismanaging 12 properties it co-owned with a real estate investment manager.

Real estate investment manager Coventry Real Estate Advisors LLC alleged in its New York suit that DDR sabotaged their joint venture by, among numerous other things, taking kickbacks from maintenance and roofing contracts on the properties, which DDR had a 20 percent stake in and which it managed....
To view the full article, register now.