Arbitration Upheld In Southridge $8M Redemption Spat

Law360, New York (March 3, 2011, 11:45 PM EST) -- A New York state judge confirmed Thursday an arbitrator's decision ordering Southridge Partners LP, Southridge Capital Management LLC and Southridge Advisors LLC to pay Pine Street Associates LP an award valued at $8 million to redeem Pine Street for its Southridge stake.

Judge Bernard Fried of the Supreme Court of the State of New York, County of New York, upheld the award because Southridge had not alleged any of the facts necessary to withhold confirmation.

Robert Wolf of Gersten Savage LLP, which represents Southridge, pointed out...
To view the full article, register now.