Olshan Victorious in Recovery of Client’s Advance to Contractor
Olshan attorneys Lori Marks-Esterman and Peter Sartorius represented an affiliate of Forest City Ratner in the recovery of a $700,000 advance made to an electrical contractor, who later withdrew when the parties could not come to terms on a final contract. Marks-Esterman and Sartorius persuaded the Judge that the work could not be substantiated, and the Court awarded a judgment for virtually all of the amount advanced. The award provides protection for developers when wayward subcontractors do not return funds that are advanced.
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