Posted by on Dec 30, 2016 in Blog |

On December 29, 2016, the New York Supreme Court denied the defendants’ motion for summary judgment and allowed a claim on a verbal agreement for a fee to go to trial.  The Plaintiff Robert Quinn (represented by Law Office of Ethan A. Brecher, LLC) claims that defendants First Wall Street (a real estate merchant bank) and its principal Glenn Myles breached an oral agreement to share with him 1/3 of any fee First Wall Street received on deals on which Quinn worked.  In the fall of 2013,  Quinn worked on a project for FWS involving a Chinese developer. The project involved the arrangement of financing for the construction of condominiums on real estate the developer owned in Williamsburg, Brooklyn.  Fortress Investment Group loaned the developer $165 million to finance the construction.  A fee of $2.8 million was received for the project and FWS/Myles failed to pay Quinn his share. The case is scheduled for trial in March 2017. Read the Court’s Decision and Order here  Quinn v FWS Decision.