Guess Breached $30M Lease For NY Store: Judge

Law360, New York (October 24, 2011, 3:49 PM EDT) -- A federal judge on Friday found that Guess Retail Inc.'s $30 million, 15-year lease for a Lexington Avenue store in New York was not properly terminated, granting summary judgment to the property's owner on the issue of liability in its suit alleging Guess abruptly exited the agreement.

Property owner and operator 720 Lex Acquisition LLC brought the suit after Guess rejected an invitation to begin moving into the building at 720 Lexington Ave. in May 2009, a year after entering a lease for the space, saying...
To view the full article, register now.




Case Information

Case Title

720 Lex Acquisition LLC v. Guess? Retail, Inc.

Case Number



New York Southern

Nature of Suit

Contract: Other


Alison J. Nathan

Date Filed

August 14, 2009

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.