Partner Matthew Parrott Quoted in The Real Deal on One Madison Park

Matthew Parrott, a partner in the firm’s Litigation and Dispute Resolution Practice, was quoted in an article in The Real Deal on the One Madison Park condominium project in New York. The lender on the project has expressed concerns about permitting the current developers to stay involved with the project during the pendency of the suit and has stated that it will only fund the remaining construction on the building on condition that the court-appointed receiver is granted additional powers of oversight and complete control of the building. Mr. Parrott, who represents the lender, says, “For the record, lender will not agree to fund construction or other expenses through protective advances or otherwise if the mortgaged property remains, to any extent, in the possession and under the control of borrower and its principals (including defendant Shapiro).” (“One Madison lender offers to complete remaining construction, provided receiver in control,” April 21, 2010)