After ruling last month that Santa Monica developer Neil Shekhter forged documents in a dispute over a joint property venture, a judge Friday ordered the real estate mogul to cede all control of the projects to AEW Capital Management.
The nine properties at issue in the dispute include Luxe apartment developments in West Hollywood, Santa Monica, and Culver City. Los Angeles Superior Court Judge Suzane Bruguera also handed AEW’s attorneys at Gibson Dunn & Crutcher more than $6 million in attorneys’ fees and costs.
The case began in 2014 when Shekhter and his company, NMS Capital Partners, filed suit alleging AEW had reneged on amended deal terms that allowed NMS to buyout AEW’s stake in the venture. The suit went south for the developer when AEW counter-sued alleging Shekhter had forged documents and violated the terms of the joint venture agreement.
Shekhter is represented by Century City’s Louis “Skip” Miller of Miller Barondess. James Fogelman led the AEW team out of Gibson Dunn’s Century City office.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.