Defunct Firm Coudert Loses Fight Over Lease Valuation

Law360, New York (January 27, 2012, 6:16 PM EST) -- A New York federal judge ruled Tuesday that real estate advisory firm Weiser Realty Advisors LLC didn't undervalue now-defunct law firm Coudert Brothers LLP's lease on its Manhattan offices by $8 million.

U.S. District Judge Katherine B. Forrest ruled that the valuation Weiser gave to the firm before it collapsed was fair, and that a report prepared by Enid Hoffman, the expert retained by Coudert's bankruptcy plan administrators, Development Specialists Inc., didn't use proper appraisal standards.

"Hoffman's divergent opinion — detached from any identified professional standard...
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