A continued snag in Site 5 (and giant planned building): court schedule suggests P.C. Richard case won't be resolved until next year
Now, according to an order (below) signed 5/10/16 by Kings County Supreme Court Justice Sylvia G. Ash, the two adversaries face a court schedule for document production, depositions, and more, to be completed by 3/31/17, presaging a trial. (Of course, the case may settle at any point.)
|Unofficial mockup of Site 5 tower|
the 12/2/06 written agreement with Forest City Ratner. The plaintiff contends that Forest City is required to acquire the store and convey a replacement property--a commercial unit in the new building be built on the same site.
Forest City contends that the the letter of intent is merely a proposal, not a binding contract, and that "specific performance and injunctive relief are barred because plaintiff has an adequate remedy at law"--i.e., presumably that Forest City could pay.
Forest City has said that plans for that tower include Time Warner Center-style retail--not the same as a discount electronics store.
Many documents are under seal.