NY Appeals Court Affirms Donerail's Win In $178M RE Row

Law360, New York (October 9, 2012, 6:26 PM EDT) -- A New York state appeals court on Tuesday affirmed an order granting summary judgment to Donerail Corp. NV over a failed $178 million real estate deal with a New York investment group that led to each side suing the other for breach of contract.

The five-judge appellate panel ruled that Donerail is entitled to retain a $38.5 million deposit it received from the prospective buyer, 405 Park LLC, ahead of the aborted 2009 deal. Donerail also is entitled to $600,000 in accrued interest on the deposit...
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