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Pastore & Dailey Client Awarded $14 Million in Derivative Arbitration

Published: May 12, 2021

     A Pastore & Dailey client was awarded $14 million derivatively on behalf of the company which he is a 49% shareholder. The dispute arose out of a prominent construction development in Bronxville, NY and concerns the failure of the developer to pay construction management fees to Pastore & Dailey’s client. The dispute involves complicated issues of tax credits and accounting. There is a corresponding Connecticut Superior Court case involving related parties, wherein the Pastore & Dailey client is seeking derivatively and directly $63 million dollars.