Litigation Team Secures Confirmation of Arbitration Award for MDC
A Ropes & Gray litigation team recently secured court confirmation of a critical arbitration award for Masterworks Development Corporation (MDC), concerning a joint venture project to build a 33-story hotel and residential building in Manhattan.
Following a heavily contested expedited arbitration between MDC and its joint venture partner, the arbitrator ruled in favor of MDC and also awarded MDC prevailing party attorneys’ fees and costs. The joint venture partner sought to vacate the arbitration award in New York state court. In two decisions issued on February 28 and March 7, 2019, the Court denied the petition to vacate the arbitrator’s decision in its entirety, confirmed the award, and also awarded MDC its reasonable attorneys’ fees and costs.
The New York-based Ropes & Gray team was led by litigation & enforcement co-chair Gregg Weiner and litigation & enforcement associate Christian Reigstad.