Paul, Weiss Prevails in Appeal in Real Estate Dispute

Paul, Weiss secured an appellate victory on behalf of Barbara Slifka and various entities associated with the commercial property located at 477 Madison Avenue.  In 2017, trustees of trusts for two of Ms. Slifka’s nephews (acting at the nephews’ behest) filed suit in the Commercial Division, New York Supreme Court, New York County, challenging Ms. Slifka’s authority to act as the managing partner of the partnership owning the fee interest in the property and her ability to sell the property. After two years of skirmishing among the parties, including multiple trips to the Surrogate’s Court, and a prior appeal to the First Department, Justice Joel Cohen ruled that Ms. Slifka in fact had the authority to act as managing partner and the ability to sell the property at her sole discretion. Although the trustees filed an appeal from that decision, they did not seek a stay, and the clients opted to proceed with a sale of the property pending the appeal. The First Department heard argument on the appeal in October, and, three weeks later, unanimously affirmed the decision.

The Paul, Weiss team included litigation partner Allan Arffa, who argued the appeal and counsel Adam Bernstein; real estate partner Peter Fisch; and personal representation partner Loretta Ippolito.