Las Vegas Showroom the Subject of New York Breach of Contract Action
Posted on Jan 01, 2016
A New York state judge recently dismissed five out of six counterclaims filed in the ongoing litigation among former investors in the World Market Center in Las Vegas. Fortunately for two of the investors, Jack Kashani and Shawn Samson, the judge also ruled that the investors could proceed with their counterclaim alleging breach of contract.
The lawsuit was brought against NAMA Holdings, LLC, a partner in the Alliance Network. The Alliance Network is controlled by brothers Mousa and Nigel Alliance. Alliance Network was the original investor in the World Market Center in the year 2000.
In 2011, NAMA Holdings filed a lawsuit against Kashani and Samson. The lawsuit alleged that the two men had conspired along with The Related Cos., LP to force out NAMA from the project. The Related Cos. is an investor that was added in the year 2004. NAMA alleges that it lost approximately $90 million as a result of those actions. Kashani and Samson then counterclaimed breach of contract, and the New York judge is allowing that claim to go forward.
The litigation between these parties has been going on since at least 2007 and has spread across courts throughout the country, including those in California, Delaware, and New York. The World Market Center opened in July of 2005 and was sold in 2011. The project eventually consisted of three showroom buildings, which are all now under common ownership along with several other showroom buildings.
To learn more about the World Market Center lawsuit and other business litigation matters, contact a New York breach of contract attorney today at (888) 497-3410 for a consultation.