Sher Tremonte Prevails in Appeal Over Acquisition of Luxury Resort
On May 23, 2017, Sher Tremonte obtained a rare reversal from the First Department Appellate Division for its clients, an investment advisory firm focused on sustainable development and the firm’s principals. Sher Tremonte’s clients advised investors on the acquisition of Aman Resorts, an international chain of luxury resorts. After performing due diligence and negotiating the successful acquisition, Sher Tremonte’s clients were forced to sue the new owners for failing to pay an agreed upon package of advisory fees. The Appellate Division denied the defendants’ appeal, which sought dismissal of all of plaintiffs’ claims, and granted Sher Tremonte’s cross-appeal, reviving the plaintiffs’ claim of unjust enrichment and holding that Sher Tremonte’s clients could pursue claims of both unjust enrichment and tortious interference with contract. Erica Wolff argued the appeal on behalf of Sher Tremonte’s team, which also includes Justin Sher, Robert Knuts, Michael Gibaldi and Emily Burgess. Read the full decision here.