As part of the coastline of the State of New York, Seaport, East River, Lower Manhattan and the businesses operating in the area were dealt a hard hand in the aftermath of Hurricane Sandy late last year. As is always the case following such devastation, the City is putting in concerted efforts to see that the coastline is rebuilt. In December 2012, the New York Times confirmed plans by the operators of the Seaport Mall; Dallas based Howard Hughes Corporation, to construct a modern three storey building for retail and entertainment centre on Pier 17.1 Construction is expected to commence on the 1st of July 2013. In the meantime however, some of the existing tenants have registered their displeasure at the proposed development.
There are claims that they are being forced to delay reopening their businesses following Hurricane Sandy and that Howard Hughes Corp is considering terminating the contacts held with some tenants based on the extent of the damage caused by the hurricane. At least three of these tenants have filed commercial dispute cases against the developer. The New York City Council however confirms that work will commence on the project as scheduled.2 The likely outcome of the suits filed by the tenants, of which Gap is one, cannot be predicted at this time but it will be an interesting development to follow.
Commercial disputes are very common in the business world and although it is sometimes possible as well as mutually beneficial for the parties to the dispute to consider arbitration and alternative dispute resolution mechanisms, this is not always the case. As a result, a significant number of disputes proceed to litigation. Concentrating on your business in the current climate is extremely important. This is why the majority of our clients entrust the resolution of their business and commercial disputes to our expertise. As vastly experienced attorneys, we will carefully consider the facts of the case, weigh the options and give you the most suitable advice regarding your options.