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News | 08.03.15

Morrison Cohen Continues String of Legal Victories in Dispute Over Upstate Casino Development

August 3, 2015 - Morrison Cohen achieved a successful outcome for clients EPT Concord, LLC and EPT Concord II, LLC (collectively “EPR”) -- subsidiaries of Entertainment Properties Trust -- when the Appellate Division, Third Department affirmed a summary judgment finding that a restrictive covenant that had burdened EPR's property in Sullivan County had terminated.

The Appellate Division ruling on July 30, 2015, further held that Plaintiffs (collectively, “Concord”), all affiliates of a development group headed by developer Louis Cappelli, had not met a financing requirement that potentially could have extended the restrictive covenant. This decision should conclusively end Concord's attempt to block development of EPR's property, including the development and construction of a world-class four-season destination gaming resort in Monticello, New York.

The Appellate Division decision is just one in an unbroken string of Morrison Cohen litigation victories for EPR, including a September 2014 decision from the United States District Court for the Southern District of New York dismissing an antitrust action Concord filed against EPR and other parties. For more details, please click here.
 

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