Goldman Can Keep $3M Lease Bonus, NY Appeals Court Says

Law360, New York (June 6, 2013, 5:22 PM EDT) -- A New York state appeals court Thursday said Goldman Sachs & Co. can keep a $3.1 million commission for renewing a downtown Manhattan lease, rejecting a landlord's argument that the bank could not prove it had a valid real estate broker's license when it originally signed the deal.

The five-member panel in its short ruling swiftly cast aside the arguments made by landlord Almah LLC, an affiliate of real estate developer Joseph Moinian, saying that Goldman had adequately shown a lower court that it was properly...
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