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Article: Court orders LVMH, RLJ to arbitrate tower dispute. (LVMH Moet Hennessy Louis Vuitton and RLJ Associates battling over New York building that would house Louis Vuitton flagship store)(Brief Article)
- Article from:
- WWD
- Article date:
- September 5, 1997
- Author:
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A bitter legal dispute between partners in the construction of an LVMH Moet Hennessy Louis Vuitton tower that would include a Louis Vuitton flagship on 57th Street is finally showing signs of a breakthrough.
New York Supreme Court Justice Charles E. Ramos on Wednesday ordered the parties to proceed "no later than Nov. 10" with arbitration over the 23-story tower that would house the 8,000-square-foot Vuitton flagship. The dispute centers on whether LVMH is responsible for paying costs that exceed the amount budgeted for the construction of the tower.
The battling partners -- RLJ Associates, the business entity of Robert Siegel, a New York real estate broker ...