Lichtenstein Wins $16M In Bank Dispute With Turkey

Law360, New York (March 4, 2011, 10:19 PM EST) -- David Lichtenstein on Friday won a $16.2 million judgment against the Turkish government, which allegedly breached a deal to give the prominent real estate investor control of New York's Park Avenue Bank.

Judge Alvin K. Hellerstein of the U.S. District Court for the Southern District of New York ruled that the Savings Deposit Insurance Fund of Turkey cost a Lichtenstein company, Deep Woods Holdings LLC, $16.2 million when it failed to give up stocks as it promised.

The amount matches what Deep Woods' attorneys demanded....
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Case Information

Case Title

Deep Woods Holdings, L.L.C v. Savings Deposit Insurance Fund of The Republic of Turkey


Case Number

1:07-cv-00934

Court

New York Southern

Nature of Suit

Contract Product Liability

Judge

Alvin K. Hellerstein

Date Filed

February 7, 2007

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