Developer Sued Over $1B Las Vegas Convention Project

Law360, Wilmington (November 30, 2011, 8:51 PM EST) -- The Related Cos. LP was hit with a derivative suit in Delaware on Wednesday alleging the developer conspired to deprive a startup investor in a billion-dollar Las Vegas convention center of its take in the project.

The project, known as the World Market Center, began in 2000 as a speculative venture by the Alliance Network LLC, with plaintiff NAMA Holdings LLC as the majority investor. But by 2004 — after NAMA poured in $12 million and the convention center looked to be a major success —...
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