Y. David Scharf Quoted in The Real Deal on New Developments in Union Station Eminent Domain Case

Partner Y. David Scharf was quoted in a recent article in The Real Deal entitled “Ben Ashkenazy Secretly Records Lender in Union Station Clash.” The article discussed the latest chapter in the battle between client Michael Rebibo, principal of lender Rexmark, and borrower Ben Ashkenazy. Ashkenazy secretly recorded Rebibo at least six times without Rebibo’s knowledge during their clash over control of Washington D.C.’s Union Station.

During a deposition, although Ashkenazy initially denied that he had recorded Rebibo, Ashkenazy’s attorney eventually handed over six recordings. David is now asking for an independent review of Ashkenazy’s phone. It is “embarrassing and shameful that Mr. Ashkenazy is hiding behind the ostensible advice of counsel to record conversations with his lender without their knowledge,” said David.

In August 2022, Rexmark, a U.S. agent of a Korean debt fund, was declared to be temporary rightful owner of Union Station by U.S. District Judge Gregory H. Woods, who granted the lender a preliminary injunction after borrower Ashkenazy Acquisition Corp. defaulted on its loan and was foreclosed on but then “refused to step aside.” At the time, Judge Woods said, “Using my analogy, they have gone from homeowner to trespasser.” Amtrak’s effort to take possession of the property through eminent domain is still pending.

Partners Y. David Scharf, Brett Dockwell, Kristin T. Roy and Latisha V. Thompson, Of Counsel Jarrod Neal Bernstein and Associate Amber R. Will are representing Daol Rexmark and Kookmin Bank. The case is Daol Rexmark Union Station LLC et al. v. Union Station Sole Member LLC, case number 1:22-cv-06649, in the U.S. District Court for the Southern District of New York.

Read The Real Deal article here.