Katan Hits Venture Partner With New Domino Sugar Lot Claims

Law360, New York (August 14, 2012, 4:11 PM EDT) -- Developer Katan Group LLC, half of the troubled joint venture that owns the former Domino Sugar factory site in Brooklyn, N.Y., launched a renewed attempt Monday to block the sale of the property to Two Trees Management Co., alleging negligence and breach of fiduciary duty.

Community Preservation Co. and the CPCR Opportunity Fund II LLC accepted a $180 million offer for the property from Two Trees in June after the would-be buyer raised its initial bid from $160 million, according to court records. Katan and at...
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