Mark P. Ressler and Paul M. “Tad” O’Connor III Named Litigators of the Week by The American Lawyer
Kasowitz Benson Torres partners Mark P. Ressler and Paul M. “Tad” O’Connor III have been named among the Litigators of the Week by The American Lawyer for winning a $185 million arbitration award for client SL Green Realty Corp., New York City’s largest owner of office real estate, in an action against HNA Group (International) Company Limited, part of the Chinese conglomerate HNA Group, relating to SL Green’s $148 million equity investment in 245 Park Avenue, a commercial marquee office tower in New York City.
On May 5, 2022, JAMS arbitrator, The Honorable L. Priscilla Hall (Ret.), found that the HNA Group had violated agreements governing SL Green’s investment in the office tower. The award consisted of more than $185 million in obligations HNA owes under a Guaranty contract related to SL Green’s investment in the property, as well as attorneys’ fees and expenses. SL Green filed a petition in the New York Supreme Court to confirm the award on May 20, 2022.
The Kasowitz team representing SL Green was led by partners Mark P. Ressler and Paul M. "Tad" O’Connor III and included Special Counsel Henry Brownstein.
Kasowitz’s win on behalf of SL Green has been extensively covered in the press. News about the win include:
- China’s HNA Found to Owe $185 Million Over Bankrupt Manhattan Skyscraper, Wall Street Journal Pro, (subscription required)
- HNA Owes SL Green $185M Over Surprise Bankruptcy, Commercial Observer
- HNA must pay SL Green fat sum over 245 Park Avenue, The Real Deal
- SL Green wins $185M award in feud over Midtown office tower, Crain’s New York Business, (subscription required)
- China's HNA Group On Hook For $184M Skyscraper Award, Law360, (subscription required)
- China’s HNA Group liable in Manhattan skyscraper dispute, Global Arbitration Review, (subscription required)