Henry J. Bergman Successfully Defends Brokers and Sellers in Major Commission Action

October 18, 2011

The Real Deal's October 4, 2011 edition reported that Moses & Singer partner Henry J. Bergman successfully defended clients Studley, Inc., Woody Heller, Irene Pletka and Peter Pletka in a $20 million commission action brought by independent broker Chaim Katzap. Studley is a premier commercial real estate services firm, Mr. Heller is Studley’s executive managing director and the Pletkas are longtime investors in Lower Manhattan’s Knickerbocker Village. The case arose out of the 2007 acquisition of the 1,590 unit property by Apollo Real Estate Advisors with Taconic Investment Partners taking an interest. Prominent in the court’s opinion dismissing the action on the merits was the rule that a broker forfeits its commission if it fails to meaningfully inform its client of a dual representation. Henry was quoted as saying "The decision underscores the importance of making full disclosure in real estate brokerage." Please click here to read the full story.

If you have any question, please contact Henry J. Bergman.