REIT Says $75M Loan Fight Can't Be Arbitrated

Law360, Washington (July 12, 2012, 4:42 PM EDT) -- Weingarten Realty Investors told a Texas federal court on Wednesday that its $75 million loan dispute with developer Miller Sheridan LLC isn't eligible for arbitration because the issue is too large and complex and the developer requested arbitration too late in the proceedings.

WRI countered Miller Sheridan's claims that both sides are bound by the American Arbitration Association's rules under their joint venture operating agreement, saying their lengthy contract lays out arbitrable disputes and strikes “major decisions” from the list. The real estate investment trust also...
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