Stung by $83 million judgment, Casden goes after his lawyers. (Investments & Finance).AFTER settling a lawsuit with former investors for $83 million, apartment baron Alan Casden Alan I. Casden (born 1945) is a self-made real estate billionaire who lives in Beverly Hills, California. He is an accounting graduate of what is now the Leventhal School of Accounting at the University of Southern California. Mr. last month sued the law firm that helped put together the real estate merger at the root of the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . It's not the first time he has sued former lawyers. In 1989, he filed a malpractice suit against longtime counsel Troy & Gould -- co-founded by brother Henry -- over advice given by the firm on a Playa playa or pan or flat or dry lake Flat-bottomed depression that is periodically covered by water. Playas occur in interior desert basins and adjacent to coasts in arid and semiarid regions. del Rey Del Rey may refer to:
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Troy & Gould partner William Gould The Rev. William Gould A.M. was an English cleric and naturalist. He was born at Sharpham Park, Somerset, son of Davidge Gould, and educated at Exeter College, Oxford, where he matriculated in 1732, aged 17; he gained his B.A. in 1736. . In 1985, Casden sued Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. attorney Hillel Chodos and one of his clients, Donald Greenwood, demanding $100,000 in damages related to a condominium deal. Casden lost that case, as well as a case filed against him by Chodos on behalf of Greenwood, Chodos said. Casden could not be reached to comment on these two cases. Chodos and Casden are on opposite sides of yet another lawsuit. Chodos represents Casden's brother Henry, who is trying to recoup a partial severance and at least $225,000 in unpaid dividends allegedly owed to him. In the latest salvo against his former lawyers, Casden filed suit May 30 against the now-defunct New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of law firm of Battle Fowler and 13 of its former attorneys. He demands they pay $100 million in damages for allegedly giving bad advice on a 1998 consolidation of 98 properties into a real estate investment trust he controlled, National Apartment Investment Co. (Napico). That deal fostered a four-year lawsuit in which former investors in Real Estate Associates LP were eventually awarded $184 million in damages by a jury. The amount was reduced to $120 million in April, one month before the settlement between the plaintiffs and Casden, along with the other defendants, including Casden's brother and the real estate investment trust that now owns Napico, Apartment Investment & Management Co. The settlement includes $83 million in cash, Aimco stock and promissory notes. Just as that settlement was reached, Casden filed suit against Battle Fowler, which was acquired by Paul Hastings Janofsky & Walker in 2000. In the complaint, Casden alleges Battle Fowler and its former attorneys failed to exercise "proper care and skill" in advising his real estate company on the deal. (Paul Hastings was not named.) If Battle Fowler had properly done its job, Casden claims a jury "would not have rendered a verdict" against him and the other defendants. "Alan relied on their advice and got sued. He had to pay money. If they gave appropriate advice, he would have stayed out of court," said Casden's attorney, Thomas Nolan. |
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