Uzan - Supreme Court Appellate Division First Department...

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Supreme Court, Appellate Division, First Department, New York. Cem UZAN, et al., Plaintiffs-Respondents, v. 845 UN LIMITED PARTNERSHIP, Defendant-Appellant, Real Estate Board of New York, Inc., Amicus Curiae. June 15, 2004. Facts In October 1998, Defendant 845 UN Limited Partnership (sponsor or 845 UN) began to sell apartments at The Trump World Tower (Trump World), a luxury condominium building to be constructed at 845 United Nations Plaza Defendant offered plaintiff lead role in a substitute film Donald Trump is the managing general partner of the sponsor. Plaintiffs Cem Uzan and Hakan Uzan, two brothers, are Turkish billionaires FN1 who sought to purchase multiple units in the building. In an unrelated action, plaintiffs were found to have defrauded Motorola, Inc. out of approximately $1 billion in connection with a deal to develop a cellular telephone network in Turkey ( see Motorola Credit Corp. v. Uzan, 274 F.Supp.2d 481, 490-492 [S.D.N.Y. 2003] ). Plaintiffs are subject to various orders in the federal action restraining their assets, and they are subject to arrest if they attempt to enter the United States ( id.). In April 1999, plaintiffs and an associate executed seven purchase agreements for apartments in Trump World Only four of those units (the penthouse units) are the subject of this lawsuit and appeal As relevant, Cem Uzan defaulted on contracts to buy two penthouse units on the 90th floor of the building, and Hakan defaulted on contracts to purchase two other penthouse units on the 89th floor. The building had not been constructed when plaintiffs executed their purchase agreements. In paragraph 17.4 of those contracts, the sponsor projected that the first closing in the building would occur on or about April 1, 2001, Colin Fleming – BUSE 140- Mid-Term Case Brief
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Supreme Court, Appellate Division, First Department, New York. Cem UZAN, et al., Plaintiffs-Respondents, v. 845 UN LIMITED PARTNERSHIP, Defendant-Appellant, Real Estate Board of New York, Inc., Amicus Curiae. June 15, 2004. nearly two years after the signing of the agreements. Once construction was completed, the building's offering
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This note was uploaded on 08/28/2010 for the course BUSE 140 taught by Professor Jefferies during the Spring '08 term at San Diego.

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Uzan - Supreme Court Appellate Division First Department...

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